While it’s not being commonly discussed, the decline of the US dollar compared to other currencies is starting to alarm journalists and other pundits. For example
What’s the problem? Simply, if the US dollar declines against other currencies, it will become harder for Americans to buy foreign products- such as all the Chinese made consumer items, Mexican, Canadian and Chilean grown food, etc. Look around you and see how much is made in other countries and add on 10-20% to the cost.
How will that affect your life?
Ah, but every cloud must have a silver lining, right? And the lining here is for those who control the silver. With a falling dollar those items the US produces with the most ‘efficiency’- technical items, manufacturing machinery, software, etc. become cheaper on the world market.
Also, it must be observed that the US economy has been propped up for the last decade or more by heavy investment by foreign nations. Japan’s capitalists nearly cannibalized its economy- once robust and now in decades of recession- to invest in the US during the 1990s. Likewise, the Saudi’s and the various Persian Gulf Emirates invested heavily in the US- as was discussed in Fahrenheit 911. The Saudi’s own perhaps 10% or more of the US.
So when the dollar comes down, those foreign capitalists who invested in the US get to be paid with cheaper US dollars. So the banks and investment houses make out like the bandits they are.
But ask yourself where YOU fit into the scheme of things. What can you do? Plant a garden? Buy Chinese made goods now while they’re cheap? Move to Korea and start a Mom and Pop store? Turn on a box and veg out? Pray to god for deliverance in these troubling times?
Why is it that our lives are ruled by an irrational economic system based in gamboling? Why is it that in a world that can provide enough for everyone, that we must be doing without?
FB
Some backround reading:
Socialism As A Practical Alternative (pdf)
Why the Market System must go! (pdf)
Why we don’t need money (pdf)
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