Another major economic crisis is looming in the not too distant future. The dollar is losing its value on the world markets AND the interest rate the US offers is less than Europe. The Euro is rapidly taking over from the US dollar as the world’s reserve currency. The population of Euroland is also larger. This is coupled with the woeful foreign policy offered by Bush & co for the last few years has made a lot of anti-US feeling. Iran, Venezuela etc. would love to see the high-handed US humbled in the one area it’s been dominant for so long.
The basic suppliers of oil, copper etc. etc. would much rather be paid in a currency that is rising rather than one which is falling. Japan, China etc who hold huge chunks of US bonds etc, are alarmed that their value is declining relatively, so they are, not only NOT buying, but now are selling.
Bush and co will probably be remembered, if at all for the total mismanagement of the West’s resources and loss of power. I’m not sure US Presidents can be removed for incompetence – pity !
