Regardless of who takes the white house after the election, someone will have to look at the deficits - and that could lead the US economy to tighten its belt. This can be done by higher taxes, higher interest rates, or by devaluation of the US dollar... or prehaps all of them.
The idea that the US can "bake more cake" to solve the deficits will not happende with any of the current presidential candidates - their combined vision for the future is as good as a blind mole.
The fear of devaluation is very real, and it could lead to high selloff of US investments, stocks, bonds, currencies. Gold will keep rising, and so will other currencies such as swiss franc.
I REALLY hope that whoever will be president will surprise the world and make a happy ending after his 4 years as President.
But it will still be better to live in the free western world vs. some middle east fundamentalist hell hole, so its not all bad
10-26-2004
Hybrid Mode
