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<p>[QUOTE="JoeSmith, post: 725334, member: 18021"]I think we'll see the end of the dollar in 5 years, I see us going on a world currency. The reason is political, so I'll try to dance around talking politics. The current power structure favors a global approach. Its the perfect way to really stick it to the rich. The world bank, or some entity, will tell us how much debt we can run, and it won't be like its been lately. The price of everything will go up. This will be done to protect foreigners who are holding so much of our debt.</p><p><br /></p><p>I like to conduct thought experiments. Suppose our government were to decide to give 1 million dollars to everyone. It would certainly stimulate the economy, everyone would have lots of money to spend. But, everyone would retire, so you wouldn't be able to buy a cup of coffee in a restaurant, the waitresses would have all quit.</p><p><br /></p><p>I live in Michigan, the state that has led the nation in unemployment for the last 8 years. We have 15% unemployment, but you don't see people wearing signs saying "I need a job". No one wants to work. For years we've been borrowing, as a nation and as individuals. This can't go on forever. We have to consume less, and produce more. We have to produce things of value, which means people have to work. How do you get people to work? That's really simple, stop paying them not to. But, I don't see this happening.[/QUOTE]</p><p><br /></p>
[QUOTE="JoeSmith, post: 725334, member: 18021"]I think we'll see the end of the dollar in 5 years, I see us going on a world currency. The reason is political, so I'll try to dance around talking politics. The current power structure favors a global approach. Its the perfect way to really stick it to the rich. The world bank, or some entity, will tell us how much debt we can run, and it won't be like its been lately. The price of everything will go up. This will be done to protect foreigners who are holding so much of our debt. I like to conduct thought experiments. Suppose our government were to decide to give 1 million dollars to everyone. It would certainly stimulate the economy, everyone would have lots of money to spend. But, everyone would retire, so you wouldn't be able to buy a cup of coffee in a restaurant, the waitresses would have all quit. I live in Michigan, the state that has led the nation in unemployment for the last 8 years. We have 15% unemployment, but you don't see people wearing signs saying "I need a job". No one wants to work. For years we've been borrowing, as a nation and as individuals. This can't go on forever. We have to consume less, and produce more. We have to produce things of value, which means people have to work. How do you get people to work? That's really simple, stop paying them not to. But, I don't see this happening.[/QUOTE]
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