Austin, TX (PRWEB) July 20, 2012
Tuesday’s edition of The Gorrie Details says the American economic problems are more than just a federal government issue. While Obama and the Federal Reserve “cut the American economy to pieces with taxes,” there’s another foe damaging the American way.
China, which the column said was the world’s second largest economy, has an agreement with Japan to trade exclusively with their currencies. The U.S. dollar isn’t a part of their transactions.
Of course, that “is not good for the dollar, not good for America, and not good for Americans,”Gorrie said. “It would be nice to know what the plan is to challenge China on this, wouldn’t it?”
“The reality is that China is directly threatening the US dollar as the world’s reserve currency,” said Gorrie. “Without that status, the US economy will go into a free fall. If that happens, today’s economic malaise will seem like ‘the good old days.’”
That undermining of the U.S. dollar, according to the column, is a direct threat that America should take seriously. Response from the administration? “We have none,” Gorrie said. “We are too busy deciding how much more of the economy should be run by those who know nothing about it.”
Gorrie’s thought-provoking articles on economic issues help to inform people of their financial options, or lack thereof, as a result of the big, impactful happenings in the private and public sectors.
James R. Gorrie has more than eighteen years of financial advisory experience. He holds a BA in economics, and attained doctoral candidacy in international relations and comparative politics, with an area specialty in international political economy. Gorrie writes daily articles on current macroeconomic and investment topics, Special Reports, and analyses on geopolitical events around the world that affect the market.
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