Beware! Thin Ice
Well, the gales of November come slashin’ as the lyrics of the great ballad of the Edmond Fitzgerald says, and this article is appropriate because the cold North wind is a blowin’ over the global economy. Though they too suffer the storm-tossed seas of the economic fix we now find ourselves in, China, is relatively speaking, in the catbird seat. Right now China is nearly squarely situated at the tiller of the global economic system. China now accounts for more global trade than anyone else does, including the United States. China is also now the number one importer of oil in the world. At this point, China is even importing more oil from Saudi Arabia than the United States is. China now has an enormous amount of economic power globally, and the Chinese want the rest of the planet to start using less U.S. dollars and to start using more of their own currency.
For the time being, the US still has some punch left in world confidence, but this is based largely on past performance, rather than a current assurance of a credible, viable, and strong greenback. While we will not get into the causes in depth here, substantially the lack of sureness in the US$ is largely based on the long term devaluation caused by the Fed’s unstoppable printing presses, (read inflation) and the continued piling up of massive personal and governmental debt; and in the short term, by the recent scandal of the governmental “shut-down”, (a political game played by the President and the Congress, I might add). Whatever faith the world has in the US dollar and its subsequent trade and industrial power is evaporating quickly. Globally, the world economy is on rapidly thawing ice; yet, the US has gone well beyond the “Warning! Thin Ice” signs and glides haplessly forward into dangerous areas. Despite seeing some other small Western economies crashing through into the frigid water below, such as Greece, Italy, Spain, and others; we heedlessly stay the course around these now floundering States as if we alone were immune from catastrophe.
Folks, it doesn’t take a weatherman to know which way the wind blows. If you haven’t started personal or family preparations by now; or you think that all will remain as it was in the good ol’ USA, perhaps you should re-read, from your grade school days, the Aæop’s fable of the Ant and the Grasshopper below.
Meantime, here is an Internet article that is both timely and telling and will support all the above.
Here is the web citation:
Meantime, pray the Most Holy Rosary of the Blessed Virgin Mary for the Consecration of Russia to her Immaculate Heart by the Pope in conjunction with all the bishops, it is our last recourse to avoid chastisements to come.
Richard of Danbury, D.S.G.