economist.com— FOR several years, the darkest scenarios for the world economy have involved a dollar crash. The script was simple. America’s dependence on foreign capital was a dangerous vulnerability.
Sep 13, 2007View in Crawl 4
Two things:1) Your comment implies that I'm American, or perhaps more appropriately a US citizen, subject to stereotypical American attitudes. I'm actually Canadian. I do not think the US, or Canada, for that matter, is inherently better or more important than any other country.2) My comment is not based on egotism or self-centeredness, it's based on reality. The US is still the largest economy (read: US buys from almost anyone and everyone) and there is still a lot of value that people believe that it holds. Someday China, India, and the European Union may eclipse the US, but the US dollar is still the major currency in the world at this point. I think it would be in the interest of many countries to prevent the US dollar from plummeting to oblivion.So, in a sense, I do think that the US is too important to fail, but my opinion is based on the realities of commerce and politics, not on some arcane birthrate to greatness.
You touched a point that I also think is weird. Why are all economists saying the current situation rose from the mortgage market while billions are wasted everyday in Iraq. Is there something I don't get? Can governments really spend infinite amount of money without consequence? Who are you going to blame, the worker who got the mortgage or the banker who gave it to him?
markdykemanSep 14, 2007
Two things:1) Your comment implies that I'm American, or perhaps more appropriately a US citizen, subject to stereotypical American attitudes. I'm actually Canadian. I do not think the US, or Canada, for that matter, is inherently better or more important than any other country.2) My comment is not based on egotism or self-centeredness, it's based on reality. The US is still the largest economy (read: US buys from almost anyone and everyone) and there is still a lot of value that people believe that it holds. Someday China, India, and the European Union may eclipse the US, but the US dollar is still the major currency in the world at this point. I think it would be in the interest of many countries to prevent the US dollar from plummeting to oblivion.So, in a sense, I do think that the US is too important to fail, but my opinion is based on the realities of commerce and politics, not on some arcane birthrate to greatness.
albionshoresSep 14, 2007Submitter
Some more than others.
dopplerdogSep 15, 2007
How will it benefit anyone in the world for the US to keep borrowing beyond its means? The argument cuts both ways.
williamdyerSep 15, 2007
A cheap fat gay prostitute??
Closed AccountSep 17, 2007
He is easily distracted by shiny things.
Closed AccountSep 17, 2007
He's living in a break from reality, his taste in music is only symptomatic.
Closed AccountSep 17, 2007
hahaha....dude, McFascism. Only 94 hits on google...pretty unique word (and perhaps concept).
tritonxSep 20, 2007
You touched a point that I also think is weird. Why are all economists saying the current situation rose from the mortgage market while billions are wasted everyday in Iraq. Is there something I don't get? Can governments really spend infinite amount of money without consequence? Who are you going to blame, the worker who got the mortgage or the banker who gave it to him?
fiatfauxFeb 22, 2009
Just ask Silver or Gold!!
fiatfauxFeb 22, 2009
The Digg Auto-Burial Service thus did not bury it.