Tuesday, June 16, 2009

USD hegemony over

Chris Hedges on the coming decline of the USD



Demeur said...

I somewhat disagree with the article. Yes much of what he speaks is already taking place right now. But much of the garbage loans and deleveraging are working there way out of the system right now. Savings and frugality are now the in thing. Banks will hold tight to their money until they have no choice but to loan it.
Also remember that the money from the recovery act doesn't take effect until July 1. To think that inflation will be rampant is unrealistic because there's still much debt to be worked out of the system.
I get my info from Bondad's blog and Paul Krugman and they haven't been wrong yet.

pygalgia said...

To G'xmas: fixed your link.
To Demeur: I agree, Bonddad and Krugman have been the most reliable sources in recent years, and the current economic crises isn't quite the 'end of America' that some like Hedges forcast. Time will tell.