By Addison Wiggin
ISBN-10: 0470287241
ISBN-13: 9780470287248
Strong suggestion for individuals desirous to steer clear of a number of the draw back of the current financial scenario. will be relatively precious for these eager to make investments smaller quantities of cash.
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Additional resources for The demise of the dollar-- and why it's even better for your investments
Example text
The 2001 recession, in contrast, was a period when debt growth accelerated, and that is precisely what Greenspan wanted to achieve. It’s eerie now to think back to a speech, on March 4, 2003, in Orlando, Florida, when he bragged about the fact that consumers had extracted huge amounts of previously built-up equities from owner-occupied homes. For the economy, such equity extraction was financed by debt. The problem has only worsened since 2001. Consumer borrowing has been growing at record annual rates.
In fact, consumer spending will slow down when consumer borrowing starts to fade. And that’s just a matter of time. The dollar is going to continue falling over the long run. It will fall as long as we continue to outspend our investment and production rates. S. dollar and Treasury securities, that would cause a hard landing. Our credit would dry up rapidly. This would not just send the dollar crashing. S. bond and stock markets. S. assets has slumped. But we are addicted to foreign investment; this is where much of our consumer credit and debt is financed.
S.
The demise of the dollar-- and why it's even better for your investments by Addison Wiggin
by Christopher
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