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Karl Baba
Trad climber
Yosemite, Ca
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Oct 28, 2008 - 01:56pm PT
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Interesting.
One question is "why does America still have such an enormous economic engine to drive the world economy?" How much of that is the status of the US dollar as the world reserve currency?
If the US doesn't produce near as much as we used to and our population is a small portion of the world's, where does this influence come from and is it vulnerable?
I'd beware of Oil prices staying low, unless the world economy really hits a depression.
peace
karl
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WoodySt
Trad climber
Riverside
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Topic Author's Reply - Oct 28, 2008 - 02:00pm PT
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It's a troubling article and makes a good deal of sense. I've posted before my concerns about world political instability since the end of the Cold War. The economic collapse makes things much worse. Historically, times like theses are very dangerous.
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TradIsGood
Chalkless climber
the Gunks end of the country
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Oct 28, 2008 - 02:21pm PT
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Doesn't produce as much anymore... ?!
http://www.data360.org/graph_group.aspx?Graph_Group_Id=348
Several times China, etc.
Even if ranked by purchasing power parity, nearly double China. Only the EU which is not a country is higher by that measure
http://en.wikipedia.org/wiki/List_of_countries_by_PPP
The hard facts sure play heck with your emotional model, eh?
Peace
EDIT:
Well maybe we are already in a world-wide depression. It seems highly unlikely that OPEC will be able to limit output much, since they need the dollars. And the price (of oil, and its products) looks to be going down in the face of proposed cuts.
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