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  • What Unites the BRICs? Dollar Envy [View article]
    The BRICs don't envy America; they're trying to save their collective butts as the dollar continues its long-term downward trajectory. Let's review:

    America (us):
    * federal obligations (debt+SS+Medicare) at 735% of GDP
    * household debt at 100% of GDP
    * <5% of income saved (was negative)

    BRICs (them):
    * federal obligations much lower than 735% of GDP
    * household debt under 50% of GDP
    * high savings (30-40% in China!)

    With THOSE fundamentals, why would they envy us?
    Jun 22 18:13 pm |Rating: +1 0 |Link to Comment
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