In this time of worldwide combined economic and public health crisis, the divided state of the US political system is a major weakness. the charts can't show the shaky foundations, until it's too late.
The saying "united we stand, divided we fall" has not had such meaning for many decades.
With a cabal of private banks (the US Fed) setting the economic parameters in the US, and a bitterly divided political system with the parties focused on damaging each other instead of working together, the future does not inspire confidence.
In uncertain times, the natural reaction of people is to curtail spending. clearly the Keynesian trained economists neglected this factor. In Australia it was reported this morning that savings are up. Helicopter money (job keeper, job seeker) has not promoted sufficient spending.
The USD is still 'the cleanest shirt in the dirty laundry basket', but its clear by all the discussion about the coming CBDCs, the USD is going to lose its pre-eminent position as the only reserve currency.
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