Re: The question all americans should ask themselves.
Broadspectrum got me thinking about what the real elephant in the room is that no one is noticing. I think i have it. It’s the sheer size of the US economy. The US GDP is still nearly three times a large as the next largest economy (Japan or China). That goes a long way toward explaining many of the things that have happened the past year that many of us didn’t expect, or didn’t happen that we did expect. The USD is still the world’s reserve currency. No inflation, let alone hyperinflation. Gold is staying below $1,000. US markets have been rebounding beyond most expectations. Other nations are still snapping up our supposedly worthless Federal securities.
Like it or not, the US is still the gravitational center around which the rest of the world orbits. We spend as much money on our military as the next 10 largest militarys. When the nation’s (and world’s) largest financial institutions were about to collapse they were rescued by throwing trillions of USDs at them. Big means something in this world and the US economy is still really big.
Of course, it ain’t over til it’s over. There’s still a lot of deleveraging to go and we may still have a serious leg down. But I think that if that size thing isn’t taken into consideration, we may still be guessing wrong about what’s to come. FWIW