Hyperinflation Nation
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Stumble ThisA three part documentary. The playlist has been embedded, so wait for the next clip to load.
"Hyperinflation Nation starring Peter Schiff, Ron Paul, Jim Rogers, Tom Woods, Gerald Celente, and others. Prepare now before the US dollar is worthless.
Become a member of the National Inflation Association for free at http://inflation.us" [/yt]
"Hyperinflation Nation starring Peter Schiff, Ron Paul, Jim Rogers, Tom Woods, Gerald Celente, and others. Prepare now before the US dollar is worthless.
Become a member of the National Inflation Association for free at http://inflation.us" [/yt]
There's no reason this would happen dramatically though, I'm sure that Chinese leadership is fully apprehensive of the effects that the economic crisis had in diminishing demand by US consumers, and would not want a repeat of it. Rather, I'm sure they'd gradually ease of it, although there is always the possibility that China will be forced into dramatic expansionary policy with the resultant decrease in their budget surplus effectively forcing their hand.
Either way though, yes the profligate spending under the Bush years was disastrous, but not exercising expansionary fiscal and monetary policy during the economic crisis of 2008 would have had the effect of enacting a self-fulfilling prophecy of economic collapse through a cycle of joblessness and business failure on a scale much worse than what eventuated.
Whether the initial stimulus was effective in preventing collapse and whether Obama's long term projects for infrastructure and health care among others will recoup the initial outlay in a reasonable time frame and provide significant improvements to the efficiency and productivity of the economy or whether they will have wasteful results is unclear. What I would say is clear, is that doing nothing will confirm the inevitable projections right now that the budget will rise to unsustainable levels, foreign debt will continue to mount, business activity will continue to shift abroad and as a result relative wage levels, livings standards, and yes, purchasing power will continue to fall.