Ngourly, that maybe so but the problem for the dollar is not going to go away. The US had the largest economy for years with little or no great challange to it but things have changed. The Russians are expanding fast and have the natural resources and money, the chinese have the potential with their available labour and are using it, the Europeans are growing faster and stronger every year and are becoming more internally dependent.
The US dollar is taking a hit because its rivals are strong and getting stronger every day. No country can any longer live on its internal market, you have to export, you have to have goods that people want, at a price then can afford.
The export markets for the US are getting smaller and more competetive, major corporate take overs are producing larger competitors which are no longer American controlled. Its not the confidence in the dollar thats weak, its the confidence of outside investors have in the US economy.
Things will not get better, why should they, what can the US do about it, cosmetic actions but the base problem is not solved and wont be.
The European economy is growing, its base is growing, its expansion is a yearly thing. With every new memeber to the EU, even the presently weak economy ones, there influence and control grows. The EU has the maufacturing capacity, it has food at an abundance, it has technology, and slowly it has tap to the Russian power resources.
As I said on one other thread, its not a case of will the oil producers remove their Dollar tag, its a case of when.
Ngourly, that maybe so but the problem for the dollar is not going to go away. The US had the largest economy for years with little or no great challange to it but things have changed. The Russians are expanding fast and have the natural resources and money, the chinese have the potential with their available labour and are using it, the Europeans are growing faster and stronger every year and are becoming more internally dependent.
The US dollar is taking a hit because its rivals are strong and getting stronger every day. No country can any longer live on its internal market, you have to export, you have to have goods that people want, at a price then can afford.
The export markets for the US are getting smaller and more competetive, major corporate take overs are producing larger competitors which are no longer American controlled. Its not the confidence in the dollar thats weak, its the confidence of outside investors have in the US economy.
Things will not get better, why should they, what can the US do about it, cosmetic actions but the base problem is not solved and wont be.
The European economy is growing, its base is growing, its expansion is a yearly thing. With every new memeber to the EU, even the presently weak economy ones, there influence and control grows. The EU has the maufacturing capacity, it has food at an abundance, it has technology, and slowly it has tap to the Russian power resources.
As I said on one other thread, its not a case of will the oil producers remove their Dollar tag, its a case of when.