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Developing Nations To Drive World Economy

By: Steve Johnson

6/25/2009 - 14 Comments

In an interesting article today in the New York Times, the developing nations that hit a wall late last year now appear to be gaining strength.

The article brings the decoupling idea back to life, just as I said a few weeks ago.

“Despite fears just months ago that they would be among the biggest victims of the financial crisis, emerging giants like China, India and Brazil are set to rebound strongly next year, the Organization for Economic Cooperation and Development predicted Wednesday — as Europe, the United States and Japan lag.”

The downside to this is also just as I thought, as food and commodity prices will go through the roof – pricing US consumers out of the market.

“On the negative side of the ledger, emerging market-centered growth could spur higher interest rates in the West and Japan, and push up prices for oil and other commodities when the developed world could least afford it.”

Peter Schiff

Peter Schiff’s long-term investment strategy is playing out just as he predicted it would.  The US is going to be left behind just as Japan was in the 90’s without a drastic change in policy to rein in spending and debt.

The growth of China, India and Brazil will also help the commodity nations like Canada, Russia and Australia.  The US economy is not prepared for what this will mean. 

The dollar will continue to lose value as the world realizes that they don’t need more shoppers, they need savers and producers.  How can the administration and congress not understand what is happening?

We desperately need new leadership in Washington if we are going to stop the recession, rebuild a competitive business infrastructure and regain economic leadership.  This is a fool’s game and we are the fools.

A declining dollar means we are losing wealth. Our personal finances are going to be effected.  Our net worth will be decreasing in relation to inflation caused by the sinking dollar.  Ben Bernanke is selling our birthright right under our nose, while we are sleeping.

More people need to understand what is going on.  More people need to realize the impact that trillions of dollars in debts are going to have on our economy.  We have dodged a bullet, only to take three more in the chest.

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