Will the dollar remain the reserve currency of the world or will it collapse?
I think the US is collapsing, and with it, the dollar. It will be interesting to see how this Individual Mandate thing will affect the country and jobs in the next few years.
Yeah, no one knows how that Mandate is going to affect this country. My opinion probably won't go well.
Companies are already making adjustments to their future plans...reductions in growth, part-time vs. full time employees etc...the negative pushback has already begun.
All things eventually come to an end. The dollar is collapsing very slowly as currency tends to do. Inflationary currency is good for people with long-term, fixed-rate mortgages. But it's now hard to justify telling people to save their money when they know their money won't be worth as much next year, or 10 years from now. Might as well spend it now while it's still worth something. With inflation at roughly 2.5%, salaries are basically decreasing every year for those who do not get an annual raise.
All fiat currencies in the history of the world have collapsed. The US dollar is now a fiat currency. It will collapse. That's the answer to the question.
The issue is timing. If you know when it will happen, you can make a killing in currency trades. No one ever seems to know, though, and wild guesses aren't my cup of tea, so I'm not going there.
Add the consideration of an economy bloated by cancerous debt, both public and private, and things look shakier by the month. We're not exactly in the pink of economic health.
Most of the economically literate people with whom I talk describe the US economy as a "death spiral." They don't like to say that in public, but they will after you've gotten a couple of drinks into them. They give it three years at the outside.
Me, though, I'm just a writer, a starving artist who can't tell derivatives from indices, or for that matter either from roulette. What do I know?
I agree, it will collapse. Even though I know there are many people who don't agree, I like asking these types of questions because it might just trigger something in other people. I do know most people don't like listening, but you never know.
The only way to save it, if it's not too far gone, is to impliment near immediate spending cuts (deep and broad), reduction in the size & scope of the federal government, adoption of a fair consumption tax & an end to the Fed...so, yes a coll
I agree that it will collapse, it's been on this course for quite some time. You can't continue to spend more than you bring in and expect things to get better. 42 of the 50 states are broke the U.S. Government is nearing 16 trillion in debt where does it stop?
My thoughts is that the Amero will replace the dollar. Right now, the security on the border is slack. Our ex-President George Bush had a meeting with Canada and Mexico, a few years back and talked about working as one. If we lose our currency, we stand to lose our sovereignty.
I hope I am wrong and the dollar will make a comeback, I would not like to see us take the route of Europe. Anyway, that is my two cents for whatever its worth.
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They want to propose this at the United Nations per the Drudge Report
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