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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (18955)	9/9/2003 7:39:22 PM
From: philv	Read Replies (1) \| Respond to of 81204

Seems like all the problems of the US, fiscal and monetary are now referred to as war expenses. The latest request, 87 billion was thusly described, as "expenses for war. "we are still at war". This phrase is almost magical for patriotic Americans, and they will accept the unthinkable in its service. It has been used many times in the past (homeland security) and will be used much in the future. The Achilles heel is of course economic. Costs are rising, debt is mountainous, and the economy is suffering. The outcome must be a dramatic decline in the value of the US dollar and consequently standard of living. One way out is to get other countries involved to shoulder the costs. But I don't think many will volunteer, because they can see "diminishing returns" to use your phrase.