The collapse of Western Economies is continuing apace...
The US managed to "print" its way over the crisis temporarily... But the structural weakness is still there... And the printing option is becoming less available...
Euroland was not so lucky... The Euro crisis is exactly like the dollar crisis...except they don't have the printing option ...YET...
The printing press is not a solution to the problems of the west...as the US economy proves... Once you start printing...you have to keep printing...you can't just stop... For example...will US interest rates EVER be above ZERO again...? NO...! Not until the dollar collapses...and gas goes to $5 per gallon...then and only then MIGHT the FED intervene and raise rates to stop the surge in oil and the fall of the dollar...
I would welcome a collapse of the Euro...and a new Republican in the White House in 2012...as ways of bringing the current crisis to a critical mass...and allow some real answers to be considered...
Right now...the old elites are desperately trying to preserve the old system... BUT THE POST COLONIAL WESTERN DOMINANCE OF THE GLOBAL ECONOMY...IS OVER.
