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There’s no alternative to U.S. in global economy
Not a great couple of weeks for the world’s monetary superpower. Nevertheless, for all the fury and confusion swirling around the government shutdown and threatened default, and the likelihood of more stalement and squabbling in the New Year, there’s no alternative to further U.S. world economic and monetary leadership. The clumsy torment of American politics, and the intense psychological separation between the leading reserve currency country and the rest of the word, are obvious. But as Winston Churchill said, the Americans generally do the right thing after they’ve tried everything else. The pointless ... (full story)
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