End of US dollar? China moves towards currency convertibility

Nice to see a relevant post, for a change.

You're right in the sense the next downturn, will be a severe Depression accompanied by massive social upheaval. Unfortunately, the die is already cast. The jobs are gone. Printing money only assures a currency collapse instead of a deflationary route. We prolong the day of reckoning until the market forces our hand, and we'll invariably be in a far worse position had we taken the pain now (and the accompanying social fallout). We're screwed.

 

blahblah blah.

i have heard same shit just before upswing in early '90.

 

^And you probably lost on that one too

 

i'll admit, that was my learning period.

 

Humble guy. That's a rare bird in these parts. Careful

 

Yes, we are.

 

remarks filled with extreme words are inevitably false e.g. the minute,doomed, crumbles, entire.

 

I see only a few ways out of this mess:

1) Jack tariffs against low-cost producers (Chindia)
2) Completely gut personal income/corporate tax, business regulations, and the Federal payroll.
3) Some revolutionary technological breakthrough - free energy, teleportation etc.

Any of those have about a <2% chance.