The Internet is like one huge mind constantly ruminating on events and news and coming to conclusions. Its cerebral cortex is the blogosphere, where you will consistently find the most enlightened and accurate views of what is really happening in the world. Far from being siomple op-ed opinion sites, the bloggers simply tell the truth about the world as they see it, which is something the mainstream media cannot do, being so constrained by their corporate owners. The word "spin" is exclusive to the media. Bloggers simply tell it as it is, and they are amazingly accurate in predicting what is likely to happen next. Bloggers made the call that we were headed for deep recession and financial crash months, even years before the events we have lived through in the last year. So for my money, the simple fact is that if you want to be informed, you have to read the blogs.
Lately I have witnessed the discourse on the wire dismembering the notion that there is any real recovery underway in the Main Street economy. These opinions, well backed by analysis and statistics, appear weeks and months before they finally percolate down to mainstream news outlets. Now I am starting to see a new emerging thought trend in the blogs, and it is not encouraging where the economy is concerned. The next point of crisis they see is another round of bank losses and tremendous downward pressure on the dollar. The consensus is forming that the dollar is now doomed in its role as a world reserve currency. "Secret" meetings are already being held by the Arabs, inviting in Russia, China, Brazil and others. They want to ditch the dollar as the official exchange currency for oil. What does this mean? In the not too distant future we could be facing a massive devaluation of the US dollar. If this happens, the only thing "the Fed" could do to defend the dollar is raise interest rates, and with that we get a gear shift out of deflation and back to inflation. The bloggers cannot time such events to precision, but they see a darkness in their crystal balls that bodes ill for the life styles of the rich and famous here in the US.
What's going to happen when we get a real "flight from the dollar?" The blogosphere is worried, and you should be too.
Lately I have witnessed the discourse on the wire dismembering the notion that there is any real recovery underway in the Main Street economy. These opinions, well backed by analysis and statistics, appear weeks and months before they finally percolate down to mainstream news outlets. Now I am starting to see a new emerging thought trend in the blogs, and it is not encouraging where the economy is concerned. The next point of crisis they see is another round of bank losses and tremendous downward pressure on the dollar. The consensus is forming that the dollar is now doomed in its role as a world reserve currency. "Secret" meetings are already being held by the Arabs, inviting in Russia, China, Brazil and others. They want to ditch the dollar as the official exchange currency for oil. What does this mean? In the not too distant future we could be facing a massive devaluation of the US dollar. If this happens, the only thing "the Fed" could do to defend the dollar is raise interest rates, and with that we get a gear shift out of deflation and back to inflation. The bloggers cannot time such events to precision, but they see a darkness in their crystal balls that bodes ill for the life styles of the rich and famous here in the US.
What's going to happen when we get a real "flight from the dollar?" The blogosphere is worried, and you should be too.
