Immanuel Wallerstein Finally, there are two real consequences of - TopicsExpress



          

Immanuel Wallerstein Finally, there are two real consequences of which we can be fairly sure in the decade to come. The first is the end of the U.S. dollar as the currency of last resort. When this happens, the United States will have lost a major protection for its national budget and for the cost of its economic operations. The second is the decline, probably a serious decline, in the relative standard of living of U.S. citizens and residents. The political consequences of this latter development are hard to predict in detail but will not be insubstantial.
Posted on: Mon, 04 Nov 2013 16:48:41 +0000

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