Death of the Dollar
I recall reading a book entitled The Dime Dollar several decades ago. It predicted back then the demise of the US dollar. The author seems to have been proven right, although it took a while. As the US government and people continue to spend what they do not have, it’s only a matter of time before no none wants to accept the dollar. Don’t be surprised if we’re dealing in euros in just a few years. Of course, things could turn around but it’s not likely. We are too locked into the destructive patterns of spending and consumption.
Other countries are beginning to look attractive to Americans contemplating gloomier days ahead for the US. Oh, the companies may do well but the average wage earner is already feeling the pinch of rising inflation and health care costs. People in the US whose parents were born overseas–especially in Europe–may claim EU citizenship based on parentage. And some are finding the life style and pace of life more attractive there. They may have more stuff in America but many would quickly trade some of that stuff for more vacation time and a better social safety net.