Get America's Bubble Economy: Profit When It Pops PDF

By David Wiedemer

ISBN-10: 0470089024

ISBN-13: 9780470089026

ISBN-10: 047175367X

ISBN-13: 9780471753674

America’s Bubble economic climate is the 1st publication to target a number of simultaneous monetary bubbles which are interacting to quickly boost—and finally threaten—the usa and global economies. jam-packed with professional research and directly speak, this publication will provide help to flip the arriving monetary transformation right into a once-in-a-lifetime wealth-building chance.

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It’s important to note that we could not have such a big international trade deficit if we were still on the gold standard, which we went off in 1973 for all international transactions. While we were on the gold standard, we had to keep a certain percentage of gold in reserve to “back” every dollar that flowed out in the world, beyond the United States. We couldn’t possibly run a big international trade deficit for very long because if we did we would simply run out of gold. By going off the gold standard for our international transactions, we made it possible for international trade to explode.

You can hold your own in any debate about the true value of any asset simply armed with this one deadly fact: If you have to manipulate it to keep it afloat, it’s a bubble. It’s that simple. The more complex question is when will this manipulation stop and the bubble burst—a question we take a stab at answering in Chapter 3. qxp 8/8/06 1:38 PM Page 14 America’s Bubble Economy not need foreign governments to buy massive amounts of it in order to prop up its value. If it’s manipulated, if it’s made to levitate despite economic gravity, if it floats like a bubble and it looks like a bubble .

Bonds were practically risk-free. So they lent and we borrowed. It would have been a match made in heaven, if it weren’t for . . the catch. The Catch: We Have to Repay Our Big Foreign-Funded Debt with “Constant Value” Dollars Here’s where things get dangerous. If we borrow a stack of dollars that is three times taller than the moon, we have to repay those debts in what economists call constant-value dollars—meaning these dollars must maintain their value, relative to other currencies around the globe.

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America's Bubble Economy: Profit When It Pops by David Wiedemer

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