John Wilmerding's Blog (1)

No Bailout!

by John Wilmerding



Prior to the illegal Iraq war, the USA was still floating on a global wave of sympathy following 9/11. The dollar fiat hegemony was intact, and the Afghanistan war had not yet damaged the economy.



But laws of economic equilibrium had begun to come into sway.



Following the collapse of the Soviet empire, laws of economics say that the one on the other side of the globe should also have scaled down. But it didn't. Instead, it… Continue