My opinion is summed up in depth in my essay on The Power of Petro Dollars. I won't bore everyone here with the whole of it, since we've got a lot of other people who might want to weigh in.
I live in the US, so that's who I'm speaking for. We know our money is losing its value, but to us it's kind of like book learning. Most of what we buy that isn't made here, comes from China. For the most part, we're not seeing inflation because our dollar is crumbling. But gas is hideously expensive. Trips outside the country are getting more and more expensive. We're only just starting to be isolated, and most of us don't feel it yet. |
