<<the debacle in Asia was followed by truly appalling losses in output and employment>>
... in HK at the time, unemployment went up, yes, and for those still employed, average aggregate wage dropped 30-40%
printing money will not be able to prevent what must be, a cleansing, and if twisted by officialdom, matters can only be worse, never better - mathematical destiny allows no mercy
there is at least one more bubble to be blown - fiat infrastructure spending, financed by foreign entities (interest rate unknowable, but will not be high for short rates), and time payment by way of taxes and inflation
the foreign CBs will play along, to keep earning at the margin, and so support the dollar - so, no, i do not see a crash of the dollar yet, because competitive devaluation and trade war is part of the toxic recipe
when the dollar truly crashes, game over for empire
recommendation: buygold |
