xsuddensam

Is the US Dollar Doomed?

No doubt the dollar is doomed. As a nation, we have borrowed ourselves into unsustainable and unrecoverable debt. Not only is the public debt out of hand, the private debt has soared into the stratosphere. The chickens are coming home to roost.

The rise in commodities is just an early manifestation of the underlying weakness of the dollar and of our debt based financial system. The growth model of our economy, which is based upon borrowing, is flawed and in due time the house of cards, upon which this model is the foundation, will collapse.

The don't worry-be happy attitude of our politicians and financial wizards is going to make any chance of averting the coming catastrophy impossible. It's not going to be a matter of asset preservation. It's going to be whether one can provide the essentials for life and survival.