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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Proud Deplorable who wrote (93932)	2/7/2009 9:40:41 PM
From: andiron	1 Recommendation Read Replies (1) \| Respond to of 116555

dollar collapse can only happen if US loses its military eminence & hegemonic status. Schiff got shafted precisely because of that. Dollar is the only safe currency to have in this debacle. Despite massive losses, US household networth is down ~10-15 T dollars..may be 20T from a bubble valuation of 60+T. So 40+ Trillion dollar is still a massive net worth. Fiscal deficit even w/ the stimulus would remain below 10% of contracting GDP. SS/medicare deficit are projected & in the worst scenario will be reduced dramatically. But then again, medical sector in US is a huge scam w/ massive wastage, and this would prompt significant cutdown there. Allow training and/or immigration of doctors/nurses to depress wages there.