[FoRK] oil producers shun dollar

J. Andrew Rogers < andrew at ceruleansystems.com > on > Tue Dec 12 23:35:29 PST 2006

On Dec 12, 2006, at 3:53 PM, Ian Andrew Bell wrote:
> That giant sucking sound is the decline of relevance of the U.S.  
> and the air deflating its sustained-growth economy, taking much of  
> the rest of the world with it.

As far as the rest of the world goes, boo-friggin'-hoo.  If many of  
them weren't so busy driving their own economies into the ground  
(*cough*Europe*cough*), they could shrug off a mere 5% of the world's  
population underperforming economically.  The US managed to survive  
an underperforming European economy just fine.

The vast majority of countries that may or may not be taken with the  
US will be sleeping in a bed of their own making.  What is actually  
coming to head is that a lot of countries (the US included) have been  
burying really stupid economic policy under the noise floor of a  
robust US economy for decades and if the US economy slows  
significantly the may have to do something smart with genuinely sound  
economic fundamentals for a change because there will no longer be a  
place in the economy to bury their stupidity.


J. Andrew Rogers

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