October 9, 2008
Guess where I think the world financial system is heading? And if you want a good reason for my thoughts, take a look at this link: BBC NEWS | Business | US debt clock runs out of digits
How big a clock will the American system need?
And, if it happens to the US, how will the rest of us fare? Can we escape a similar fate? Will the US dollar soon become the American Peso?
Sure, any comparison with Zimbabwe seems a little far fetched. But once inflation gets hold of an economy it is very difficult to stop. Of course I may be totally wrong. After all, the US has volatile asset prices in markets and a plummeting real estate market. So really I should be using the dreaded ‘s’ word…