expatsp

This Is Just the Beginning

Many of Schiff's criticisms of the U.S. are correct, but the fact is, the rest of the world is often worse. Even with the stimulus, debt/gdp ratio in the U.S. will be far lower than that in Japan or pretty much any European country.

As for the emerging markets, well, I live in Brazil, and for all the complaints about corruption in the U.S., it doesn't hold a candle to what's happening here. Plus Brazil has a birthrate below the replacement level and a long-term Social Security that makes U.S. fiscal problems seem like peanuts. Russia has similar problems. China and India are dependent on exporting to the U.S.

So if you want to flee the dollar, where will you go? What will support commodity prices if all the world economies are in recession?

I don't have any answers--but I do believe that much of the negativity surrounding the U.S. is not because things are much worse there, but because they garner more attention and so are better known.