Moon Kil Woong

New Economic World Order: U.S. No Longer On Top

Although the fiat $ system makes some sense, blowing it up by paying 0% attention to inflation, allowing excessive leverage, asset bubbles, no attention to trade imbalances, no regulation of derivatives or lending standards, and the transfer of debt obligation to overseas holders of an increasing amount of your dollars pretty much wins you a F in any economics class modeling. It's a wonder the US lasted as long as it did. What the US needs is a austerity program, not another re-inflation of money supply.

Of course, that's what it is going to get because the Fed, Treasury, and current administration are absolutely clueless and have trampled on any concept of a capitalism, and a free market. Add that to the loss of civil liberties and you can call it America as many times as you want but it is already gone.