Skeptic Project

I still think America is in major economic shit, regardless of whether the Austrians are getting it right or not. The thing that will hurt America will be if countries like China/Russia/Iran/Anywhere else continue to drop their reserves of US currency, because this is in essence what keeps America afloat and this is why it doesn't MATTER how big the national debt is - because being a reserve currency gives backing for pretty much endless spending. But if nations continue to drop reserves of the US dollar, the US will have to progressively begin defaulting on it's debts. It's not necessarily the end of the world. It'll just mean major austerity and the IMF, and, if it got really bad - would lead to hyperinflation. That's my understanding, anyway. Correct me if I'm wrong. That's what I've read in investment journals, not stuff from conspiracy theorists.

Well, except that nations are dropping their reserves of USD - and that that's really really bad.

I don't know much about economics, either. That's why I made it clear that what I'm talking about isn't a surety - just that a lot of business and investment journals are saying it, which doesn't necessarily make it concrete but at the same time it isn't a good sign.

The other about investment journals is that they're probably likely to consider the worst possible scenario, even if it isn't the most likely - because they don't want to be held liable for telling their investors to put their capital into something that'll go bust.

Oh yeah, wasn't an Austrian apocalypse supposed to happen in the early 80s and early 2000s?