Take some of this and just change "Japan or Japanese" to "U.S. or American". Could well be our future. - MBC
"...U.S. unemployment rate rose to a six year high in June and consumer prices fell at a record pace. The American economy continues to be stuck in a stagnant deflationary state and will be dependent on a global economic recovery to spark exports. Increasing growth in other nations (mainly China) has sparked production increases by American manufacturers. This has been the one positive sign out of the U.S. recently, but this one piece of data couldn't halt the selling of the U.S.$.
The new government is expected to increase spending on government programs, but no one has figured out how to pay for these increases. The opposition's spending proposals add up to 3.5% of GDP, and the party has ruled out raising U.S. 5% consumption tax for at least 4 years. Much of the funding for the new programs will come from cutting 'waste' in existing spending programs (sound familiar?). Gross national debt in U.S. is currently 180% of GDP and rising as the stimulus packages kick in. - MBC
http://www.dailypfennig.com/
"...The fall of the dollar also accelerated yesterday as investors moved back out of the 'safe haven' of US$ and continued to shop for more yield..."
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