18 December 2006
The macro factor in US economics
It pains me to see the daily results of governmental mis-prioritization. The artificial robustness of the housing industry is coming soon to haunt us. Interest rates are too low. And, the continued efforts to keep fuel prices low (even by today’s standards) are costing us trillions. The gulf war, continued deficit growth and the zillion pound gorilla that we are lying next to with our debts to China. The sky is not falling… but something is in the way of a power shift is certainly looming.