Wednesday, August 1, 2007

US FACES MASSIVE MACRO-ECONOMIC DISLOCATIONS!

THE STRONG DOLLAR "HID" A LOT OF PROBLEMS... BUT THAT MAY BE ENDING...THE US COULD BE BECOMING "JUST ANOTHER ECONOMY" IN THE WORLD...

THE DECLINE OF THE DOLLAR AS THE GLOBAL RESERVE CURRENCY IS CERTAINLY PART OF THE PROBLEM... BUT FREE TRADE HAS "LIBERATED" INTERNATIONAL CAPITAL IN THE US...TO OPERATE "AS IF" IT HAD NO OBLIGATIONS TO THE LOCAL AND NATIONAL ECONOMY...

AND THAT, GENTLE READER, IS THE GREAT FALLACY WHICH WE WILL BE DEALING WITH FOR THE NEXT 20 YEARS... NO MATTER WHAT HAPPENS TODAY OR TOMORROW IN THE "MARKETS."