Bobby Chia-Wei Chang aka Destinytank: Sharing my life and dueling yugioh at the same time
Friday, July 1, 2011
Beware of the fall of the dollar
The US cannot simply keep printing money the way it has been doing. We are printing money as if paper grows on trees :) Anyway, seriously, other countries are slowly dumping dollars and buying up resources, most notable example being China. Soon, the world will move to a new currency, possibly one created by the IMF, if US does not control its deficits and continue to print money and devaluing the dollar. When that day comes, there will be reckoning apocalypse style. As the purchasing power of the dollar drops and as US continues to cover bad debts of others and creating the biggest bunch of debts in the history of civilization, we are heading down a dangerous road of a dramatically lowered standard of living for Americans. Although stocks may fall in value as well, it will be a perfect time for investors to make record profits by trading in diverse funds such as exchange traded funds. I am hoping someone in America will lead America out of the coming economic crisis by imposing austerity measures now, cutting spending, control the deficit, and stop printing money like its free. Hopefully the days of riots in the streets such as Greece is experiencing right now will never happen in America, but you been warned, however continue to invest in renewable energy stocks and have some cash on hand for when the stock market crashes, which it is about time overdue. Those who can pick up the pieces of stocks will be glad they did.
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