John Williams: The US Edges Closer to Collapse
February 10 — John Williams, of Shadowstats, notes that fundamental conditions for the US dollar could not be worse. Williams says the record lack of confidence by the US public in their government now threatens global currency stability. Here is what Williams had to say about the situation: “One of the more important, long-range underlying variables impacting the exchange rate value of the U.S. dollar is the net foreign trade position of the United States. In the post World War II era, the U.S. trade position first fell into net deficit in 1971. By the late-1970s, widening annual trade shortfalls had become perpetual, as had the resulting structural deterioration in the U.S. economy and the foreign exchange weakness of U.S. dollar.” Read more.
