Posted by Lorimer Wilson
The debt ceiling deal agreement is only going to exacerbate America’s financial and economic woes and accelerate the demise of the U.S. Dollar Standard which is inherently flawed and increasingly unstable. Its demise is imminent. The only question is whether it will be death by fire—hyperinflation—or death by ice—deflation.
Nevertheless, despite the best efforts of policymakers to keep the Dollar Standard alive and to stave off the depression that would most probably follow its collapse, ultimately, one of the following 5 scenarios is likely to overwhelm even Bernankeism.
1. A protectionist backlash against free trade, resulting in a trade war similar to that which occurred during the Great Depression.
2. A US asset price bubble (as interest rates fall toward zero), that drives property prices so…. (To read more of this article please go to our associated site here.)
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