yanks have lost it, page-29

byteme yes it is fair to say that earnings have been well sustained.

however you are still missing the key point. the country is broke. the govt is broke, the people are broke, they can't buy much more, they are maxed out.

the write downs have yet to occur, nnever mind provisions on balance sheets.

as the economy slows there will be foreclosures. this will have a negative spiral effect.

the uS govt will throw more kero on the fire to bail it out. this will be an attempt to reflate the debt, to monetise it.

what will happen is other countries will one by one unpeg from the US dollar and it will go down the gurglur.

we would expect the USd to go down to say 50 or half. or say $1.50 AUD form 92c.

but the US hasd too high a cost of labour. that is why their southern border is left open, so they can import mexican labour willing to work for $5.50ph. what this means is that we will see the elimination of the middle class in the USA.

the USA is finished as an empire. of course it will still be huge, as is germany, japan, Uk, china. but th epower is shifting.

we are witnessing Rome, circa 400's. this is a momentous occasion to witness the end of an empire

the fear i have is that following will be trade wars which invariably lead to real wars. i put nothing past a myopic, ignorant, god is american god bless america, house of congress.