Monday, October 06, 2008

EU-nuch Schadenfreude at US Troubles Boomerangs

WSJ has a great editorial on how we're all in this boat together. The EU-nuchs might be rooting for Obama, but when he puts up tariffs and trade barriers to satisfy his union constituents, the US will informally abandon the globalization carousel that Clinton jumped on with NAFTA and GWB will begin to look good after a couple of years of stagflation and flight capital from the US and EUnuchland to other markets---emerging ones like Chna & India, perhaps.

I'm reading Fareed Zakaria's book The Post-American World and it posits that the US will be more of primus inter pares than a financial superpower. And the dollar will no longer be the reserve currency.

Who will write the American Recessional?

1 comment :

knowitall said...

We are going to be the country whose currency means nothing pretty soon. We're borrowing so much money from other countries, and will have more to borrow under the leadership of the liberal illuminati, so who knows what will happen then.