Spinning Bad Financial News Into Good
by Paul Craig Roberts, 8 September 2012
http://www.paulcraigroberts.org/2012/09/08/spinning-bad-financial-news-into-good-paul-craig-roberts/
The “great hegemonic American economy” is on the verge of total collapse, because the only way it can pay for the imports that sustain it is by issuing more debt and printing more money. Once the debt and money creation undermine the dollar as world reserve currency, the US will become overnight a third world country, much to the relief of the rest of the world.