I hear the fat lady tuning up in the next room. I think this is going to happen MUCH faster than most in this country expect.
I suspect that by Fall 2010 the dollar will be a mere shadow of its former self and rejected in most foreign trade. I expect oil to start climbing rapidly this Fall, and not due to speculation, as was the case last summer. I expect all oil-based products and transportation needed to get those products to market to start rising a steady clip next year.
A devaluation or bankruptcy is most certainly coming. I posted a thread last year about the looming U.S. bankruptcy, and many rejected the possibility out of hand. Granted, the U.S. will likely choose to avoid that stigma and instead opt for severe devaluation. The effect is the same: we’re screwed. Anyone care to wager what the devaluation will be? I am guessing 50-75%.
