Change needed in U.S. energy policy
Businesses, in order to stay ahead of the economic game, must be thinking about and planning for these shifts in economic activity and costs. Even individuals should be planning ahead for, rather than reacting to, these economic changes. Remember that any economic change is bad for some (gas prices in California) and good for others (oil wells in Texas).
Probably the most fundamental and important world issue affecting the U.S. is the debasement of the dollar.
Our Federal Reserve is creating prodigious amounts of dollars to fund ever-larger deficits to get the U.S. and Europe out of the leveraged mess caused by cheap mortgages, unfunded wars and low taxes. Remember that as the supply of dollars goes up, the price goes down. A cheaper dollar stimulates exports, thus benefiting the American manufacturing sector and other sectors that can export their services. However, it makes our imports more expensive, thus stimulating more oil drilling and American manufacturing. Some day, the Chinese economy will be bigger than the U.S. economy and their currency more important than the dollar.
The debt overhang is going to