I actually don't think it's a bad thing if someone working a semiskilled or unskilled job has to save a couple bucks a week for a year or two before they buy a big screen TV made in Asia.Oldgringo wrote:The U.S. has been printing, and continues to print, a lot of money with not much to back it up. Inasmuch as our currency is being devalued as this is being written and inasmuch as the GDP ain't much anymore, who is going to sell us the stuff needed to maintain our place in the world if our currency is not sound?
In the long run I think it's better if we don't maintain our current place in the world as indebted consumers.