[lbo-talk] Coming Currency Shock

Doug Henwood dhenwood at panix.com
Thu Nov 25 06:39:09 PST 2004


Eugene Vilensky wrote:


>I lurk the list but I'm not sure my big question has been touched upon:
>
>Are other major 'developed' countries in as much danger of having
>their economies tank if the US goes under? That is, will this be
>accompanied by a global depression?

If the U.S. "went under," it'd take down most of the world with it. And since so many countries depend on exports to the U.S., even a recession here would cause problems abroad. I'd say the likelihood of the U.S. going fully under is pretty slim.

Doug



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