[lbo-talk] Coming Currency Shock

[Eugene Vilensky]

> 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.

Sort of related question: If the economy is "2/3 consumer spending,"
what would happen to employment and personal incomes if people
suddenly started saving at rates similar to those of Western Europe
instead of Shopping For America ?  Is it reasonable to assume they
would go down drastically?  Is debt financed by foreign investment the
only way to keep the game going?

-- 
Eugene Vilensky
evilensky at gmail.com