The Enemy Within – David Malpass

From Forbes; David Malpass

David Malpass

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The U.S. is suffering a government-spending and debt crisis, compounded by an investment exodus caused by Washington’s weak-dollar policy. These risk a tipping point where financial markets and the dollar collapse. Heavy daily flows into gold, silver and foreign markets show the path of capital flight.

As a nation we’re spending a lot of time and energy worrying about tipping points. The current path is unacceptable–a grinding decline in wealth, living standards and global stature as the dollar withers. Nor will grand political compromises make us safe and strong.

First-order U.S. growth solutions rest on clear decisions by the President to end the weak-dollar policy and substantially reduce current and projected federal spending. Proponents of Washington’s devastating weak-dollar policy have promised for years that devaluations would make us more competitive, yet jobs, capital spending and innovation keep moving abroad to avoid the shrinking dollar. Near-zero interest rates tag the dollar as the flight currency of choice for world markets.

Big-government advocates argue that aggressive deficit spending will add jobs, yet the federal blowout mostly benefits big government and well-connected borrowers, not jobs or savers.

Read it here.

Capital Flight


About 3xG Admin

I am interested in Gold, Silver, Energy, Geopolitics, Economics, Religion, Demography, History, Complex systems, Critical theory, Antipositivism, Sociology of knowledge and Chaos theory.
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