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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (66600)	7/21/2006 5:50:53 PM
From: GST	Read Replies (1) \| Respond to of 110194

Recession or at least stagnation, yes. But there is something more fundamental going on here -- the decline of the USA and the rise of other parts of the world. Once you grasp that we are not going to be the center of the universe much longer, everything else becomes easier to see. So long as we were strong, respected and leading the world, the dollar was strong. As we weaken in every sense and lose the respect of the world and fumble away our leadership role, the rest of the world will no longer revere us or our currency. We will become far less important to the rest of the world -- that is where we are headed. It began a few years ago and has picked up speed. Part of it is just who we are as people who do not save or invest. Part of it is our exceptionally inept political leadership. Part of it is the speed at which other parts of the world have been rising. Part of it is the pigmen that Russ complains about. Taken all together, we are about to learn the most basic lessons of economic life -- people who live beyond their means go broke.