The Lost Context of the Economic Crisis

The economic crisis worsens. The news presents us with markers, signs and symptoms. The situation spirals gradually, downward, toward a point of no return. China’s war against the U.S. dollar continues pushing one nation after another to bypass trading in dollars. We see, as well, that China Moves to Further Marginalize the Dollar just as China Leads a Campaign to Replace the Dollar as [the World’s] Reserve Currency. It is no accident that China pursues a national strategy hostile to American financial interests. To supplant a great financial power one must take certain actions and follow a definite path. So what is the American side doing to protect its position? America is doing very little. America is, in fact, lost in a wilderness of self-inspired trivialities and entertainments. We no longer appear to know which end is up. Continue reading