The Dollar is Bleeding

by Ryan on September 8, 2009

in Economy,International Relations,Politics

News came out today that the US dollar is trading the lowest it has all year and many economies around the world are reiterating their thought that the days of the US dollar being the world’s reserve currency may be at an end.  The initial shock if that were to happen would be catastrophic to the US economy.  

The UN can whine all day long about the US (that changes nothing), but the BRIC nations are the ones who can make this happen.  The emerging economies in Brazil, Russia, India and China see a future in market-driven capitalism, using the American example over the last 25 years with deference to their own nation’s situation (they’re development isn’t exactly like ours, but they recognize what causes success). 

It’s funny how foreign nations need to lecture us about how one’s nation should behave if growth is one’s goal.  You can blame the Bush Administration for sacrificing the dollar slowly during most of the last decade, but it’s been the wild printing of US currency under Geithner’s Treasury (and under Obama’s watchful eye) which continues to scare the heck out of everybody with economic sense:  we live in a globalized world and economics is a science which has been usurped by ideologues in America at present.  Ideologues, who the rest of the world knows can hurt them in more places and in more ways than any American bomb.

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