Re: The US Dollar (spend it fast as you can)

[Tom Walker]

The premise only supports the conclusion on the condition that hegemony is a
zero-sum game. US drops ball; someone else picks it up. Uh-uh. Much more
dangerous possibilities have presented in the past, such as during roughly
the first half of the last century. In the hegemony sweepstakes "nothing" is
something too. 

The USA entered into the twilight of empire between 1968 and 1974. Any
semblances of glory since then have been mirages sustained by the
obsequiousness of USA's "partners" and the relentlessness of the public
relations campaign.

Yoshie Furuhashi wrote,

>There's nothing on the political horizon to replace US hegemony -- 
>therefore Ellen's dissertation on dollarization holds up, I think, 
>despite the alarms sounded by Wynne Godley who writes as if the USA 
>had already entered into the same twilight of the empire that the UK 
>had earlier.

Tom Walker
Bowen Island, BC
604 947 2213