September 13, 2009
– Comments (3)
Although Karl doesn't go into the social consequences....you can bet your bottom dollar he is thinking about it.
The problem for KD, is that people like me saw this comming 5 years go. And many saw this comming 10 years ago.
It is pretty later for him to say all these. IMO
He is not a doctor. Cause he can't see what is comming earlier enough. But he sure is good at doing autopsy and find out what was wrong. To be fair with him, he always want proof. that is why he never get ahead too far.
Trade Wars Becoming a Game of Chicken
Sept. 14 (Bloomberg) -- China announced a probe into the alleged dumping of American auto and chicken products, two days after U.S. President Barack Obama imposed tariffs on imports of tires from the Asian nation.
Chinese industries have complained that they’re being hurt by “unfair trade practices,” the nation’s Ministry of Commerce said on its Web site yesterday. The Beijing-based ministry is also looking into subsidies for the products, it said. It didn’t specify the imports’ value.
The European Central Bank said last week that rising protectionism may hamper world trade and undermine the global economy’s recovery from recession. The U.S. placed tariffs starting at 35 percent on $1.8 billion of tire imports from China, backing a United Steelworkers union complaint against the second-largest U.S. trading partner.
Good find. Are you becoming a believe in Gold yet? The only way to 'save' the economy is to inflate our way out of debt or... default on the debt or a combination of the two (if that is even possible).
Perhaps this is possible, but I doubt our creditors will let it. Invest in foreign currencies and gold and hope that th government doesn't attempt to confiscate either.