[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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