Wednesday, May 17, 2006

An Alternative View to Doomster Predictions

Times Online: Greenback will fall, Armageddon will not follow

This article provides an alternative scenario to the financial melt-down that some doomsters are predicting for the US economy. It uses historical examples to forecast long-term gains will outweigh a short-term dip. It touches upon the power of diplomacy within global markets. For doomsters who believe nothing is different this time around, you must also believe history examples are of use to forecast the future. Perhaps not all is gloom within the US economy afterall.

Posted by talking rot @ 11:20 AM (618 views)
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1. Ticktock said...

There was one of these 'actually the bad news is all good news' type articles in the FT today too , and no doubt the Right Wing press will continue to bang the 'don't panic' drum throughout the the coming collapse.
Unfotunately, this is 'nonsense on stilts'.
The scale of $ overvaluation is seriously under stated in these articles, and the belief that the on- coming recession will be brief and minor, is based upon the idea that the Fed will once again, you guessed it, print more money to limit the (short term) damage.
Unfortunately, the world has lost both faith and patience, not just with the dollar, but with the United States of America. This problem cannot be solved by printing more dollars.
'The project for The New American Centuary' may have to downgrade its boast to' junk' status very soon.

Wednesday, May 17, 2006 04:55PM Report Comment

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