Saturday, October 27, 2012

I'm Baaaack!

I may not be better than ever though. In the meantime, I'm going to pledge to my erstwhile dear readers who have, quite sensibly, long since deserted my barren little blog, that I am planning to post one sumptuous piece a month. Should that initiative go reasonably well-don't ask how I will know if it goes well- I will endeavor to post once a fortnight. The Peter Principle, broadly defined may, at that stage, rear its ugly head and throw me back to a once a month offering, but now I'm getting just a tad ahead of myself.

So much has happened in our world since my last post, many months ago, though the changes have mostly been of the sort that may best be defined as beneath the surface. We are presently faced with a Presidential election that occurs in approximately two weeks, and, depending on which poll one subscribes to, what is left of the voting public that still subscribes to the worthiness of Presidential elections seems to be split down the middle regarding who they would prefer to hold executive power come 2013. I know I won't be part of the cult of votism where The Presidential election is concerned, but I will likely participate in the local referendum questions.

Suffice it to say that my view is that the trajectory of the course the U.S.S. USA is on will not markedly change regardless of who is nominally manning the helm come January.  There's just no room to maneuver any more as politics simply won't allow for the sort of bold, not to say draconian, responses that are required to address, for example, the government's seemingly intractable indebtedness. Enacting genuine solutions, as opposed to counterfeit ones, will be left to other actors, and, forces, and in their wake, nothing more than plentifully hollow excuses will be proffered by our political class.

In that light, if you haven't made preparations for the cataclysmic finale that will signify the bitter end of the dollar's global hegemony, I urge you to get with the program, pronto. After all, large swaths of the rest of the world have been preparing for the none too pleasant denouement of the greenback's reserve currency status for a number of years. That is, after all, what all the bi-lateral currency swap agreements that have been erected by and between a plethora of nations of all sizes and shapes are about. When the dollar reaches the event horizon of the looming financial system black hole that, with each passing week, draws ever closer, folks in other lands would like to be able to continue conducting trade for life's necessities. This is the proximate reason for the aforesaid agreements that are cropping up across the globe with all the dizzying frequency of dandelions growing in one's front (or back) yard after a heavy, spring rain.

With respect to timing, my view is that when The Europeans show some demonstrable progress in addressing the key issue that plagues them, namely how to stop living beyond their means via chronic debt expansion, all eyes will turn towards the U.S. and its own grotesque collection of financial excesses. My best guess for a time frame for a great reckoning on these shores is the middle of the decade whether or not the EZ gets things sorted. If, for example, the EZ manages to get a proposed banking union up and running by this coming year, the time line for the U.S. Gotterdammerung will accelerate. But, make no mistake, the train has long since left the station and is now well down the tracks. All that is in doubt is the ETA.