Reply #4: Not Without a Fight

[phgnome]

I haven't read the book but I've been thinking about the dollar a lot. The dollar will not depreciate significantly without a fight, history has shown. I think what the US is experiencing -- every country goes through a similar period when the country has been an economic powerblock for too long.

I can't say I'd know what I'd do if I were in Bush's shoes ... there isn't really much he can do, maybe aside from going to war. The war with Iraq is only the tip of the iceberg, the roughest part has yet to come (i.e. world war). I wonder if there are futures on the prospect of a world war. The shit has not yet begun to hit the fan with Iraq.

It appears that war is inevitable because the greater he (or any other individual that may become president, for that matter) gets the US into debt, the more difficult it becomes to get out of that debt. Yes, in the short term, he may cushion the fall but the more debt that is gained the harder the fall becomes. I understand his conventional wisdom for cutting taxes but conventional wisdom cannot be applied to a situation of unconventional over inflation of the dollar.

I still think a global space race would help tremendously. If the Bush administration wants to pursue more propaganda, it should be pushing an international space race and begin by taking the initiative to involve even poorer countries. Make everyone literate so that they may contribute (and the country has a prospect of being a consumer later on). It will make room for further economic expansion (into places outside our atmosphere that will take economic efforts to sustain). Remember, the name of the game is not just the dollar figure or the clearing of the deficit: it is to spur economic activity and get the global money flowing again doing something productive.

We need to scrap the capitalist-individualist way of doing things and we need to do it fast.