it may not turn out the way you expect, SP. There is growing public backlash against government spending in the US. Dave Rosenburg has said the US could easily wipe off 1 trillion dollars of its deficit by closing tax loopholes for example. And even more could be saved by not fighting so many overseas wars. All it takes is political will dictated by the people, and the 2012 election could be instrumental in this respect. If Bernanke is successful in lowering the dollar, it will help America rebuild its export industrial complex. Greg Weldon talks a lot about this in the context of restructuring their banks, putting BAC in Chapter 11 for example. Winston Churchill said America does the right thing after exhausting all alternatives, which is probably when the gold bear market starts.
