The Global US Dollar Showdown
William (Bill) Buckler, Captain of The Privateer
Oct 24, 2007
Extracted from the Late October Issue of Bill Buckler's "Global Report"
(snip)
William (Bill) Buckler, Captain of The Privateer
Oct 24, 2007
Extracted from the Late October Issue of Bill Buckler's "Global Report"
(snip)
The Importance of True Global Scaling:
The European Union (EU) stands with a $US 16 TRILLION plus economy and is the largest trading bloc in the world accounting for nearly a third of the global economy. The $US 13.8 TRILLION US economy accounts for 27 percent, Japan 9 percent and China less than 6 percent. Europe is the creditor nation, the US is the debtor nation. Unless this fact is kept firmly in mind, the events surrounding the G-7 meeting which starts on October 19 will, on the surface, not make any sense at all. The US, of course, will maintain the facade that it is still the number one in the world, at least for internal consumption. The Europeans will see straight through this as empty and hollow blustering. What the EU wants to see is direct and concrete US actions to rein in its ongoing internal credit expansion.
The US wants to reaccelerate that same credit expansion. There is a huge collision ahead.
(snip)
The European Union (EU) stands with a $US 16 TRILLION plus economy and is the largest trading bloc in the world accounting for nearly a third of the global economy. The $US 13.8 TRILLION US economy accounts for 27 percent, Japan 9 percent and China less than 6 percent. Europe is the creditor nation, the US is the debtor nation. Unless this fact is kept firmly in mind, the events surrounding the G-7 meeting which starts on October 19 will, on the surface, not make any sense at all. The US, of course, will maintain the facade that it is still the number one in the world, at least for internal consumption. The Europeans will see straight through this as empty and hollow blustering. What the EU wants to see is direct and concrete US actions to rein in its ongoing internal credit expansion.
The US wants to reaccelerate that same credit expansion. There is a huge collision ahead.
(snip)
