The title of this entry is the title of an article in the National post. Excellent piece. Read it here.
Here are a couple paragraphs from it.
Reform of health care, environmental policy, education, energy, banking,
regulation — every nook and cranny of the U.S. economy has been put on alert for
major change. Expansion of government spending, plunging the U.S. into
unprecedented deficits, is without parallel. In economic policy, through
regulation and control of energy output, financial services and monetary
expansion, the U.S. government has embarked on a fundamental reshaping of
America. It is designed, in short, to bring on the end of America.
For the rest of the world, however, the worry is that America is at risk of
becoming the fountainhead of a new inflationary outburst. The U.S. dollar is now
in decline, gold is moving sharply higher, and new global currency turmoil is on
the horizon. It may not happen. A paper just published by the Federal Reserve
Bank of St. Louis, source of the chart above, says that the Fed will have to be
prepared to absorb all the excess money it has poured into the U.S. economy. It
will be a technical and political challenge unlike any central bank has ever
undertaken. The future of America is at stake.
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