Economic `Armageddon' predicted

[Il_Mostro]

You realize I'm from Sweden, right? [img]/images/graemlins/smile.gif[/img]

I meant a more general "we", since most of the world has a stake in the US dollar, if it falls, so does the rest of us, like a house of cards.

[Il_Mostro]

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Eventually there will be a recession. There will be one bigger than the recent one, which was actually very tame. If he predicts one now, and keeps predicting it, eventually he'll be right. It may take 10 years, but eventually he'll be right.

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Obviously I agree with that. But I also believe there is a distinct risk that we are facing a complete meltdown of the world economy. And if oil production peaks too soon, I'm sure we are.

[busguy]

Nope,

Didn't see that but I think that you get (and probably share) my point.

[img]/images/graemlins/blush.gif[/img] busguy

[cardcounter0]

I frequently do business in Romania.

The US Dollar was always King. The local currency, the Lin, trades at about 1,000,000 to $33. (A month or two ago, it was 1,000,000 to $30, the dollar just doesn't go as far as it used too). Nobody wants the local currency.

In the past year, there is a definite preference from the Romanians to be paid in Euros. They want Euros instead of Dollars. Can't blame 'em, but the currency conversion is killing me.

[goldcowboy]

[ QUOTE ]
Obviously I agree with that. But I also believe there is a distinct risk that we are facing a complete meltdown of the world economy. And if oil production peaks too soon, I'm sure we are.

[/ QUOTE ]

Let me guess... You were one of the Y2K hysterics weren't you?

[Il_Mostro]

[ QUOTE ]
Let me guess... You were one of the Y2K hysterics weren't you?

[/ QUOTE ]

Nope. Have you even looked at the problem? Have you anything to offer but random ad hominem attacks?

[ACPlayer]

Here is an article on the dollar from Asia Times

I am not crazy about the analogy of the US infrastructure to the Twin Towers infrastructure (a more seemly analogy could have been found perhaps) but the analogy has merit.

[Il_Mostro]

You really need to learn how to post links [img]/images/graemlins/cool.gif[/img]

[ACPlayer]

Asia times article.

I was using Netscape at the internet cafe yesterday and it appends a paste to http:// rather than replaces when using the URL button below. Back to using IE now.