Re: Bye, Bye Old Dollar Standard
"Close enough for government work," as the saying goes, NoHope. I don't think it is eminent (hey, what do I know, I changed my major from Economics to Accounting) but the Austrian Economists whom I look to for input on this, like the Honorable Ron Paul and the Mises Institute feel like we are in for an inflationary depression.
The price of things will keep escalating while the bankers draw the purse strings. Notable exception - the housing industry will go down like a rock.
With Keynesian Economics the rule of thumb is, when times are good, roll those printing presses, when times are bad, roll those printing presses.
It gives the impression of having great wealth and a bull market. People go crazy buying everything in sight 'cause "happy days are here again."
This has gone on for decades and the markets are screaming for an "adjustment." Dr. Paul said that the sooner it happened the softer the landing or, vice versa, the later it happened the harder the landing. That was at least 15-20 years ago or longer so I think we can forget the soft landing senario.
Just how painful it will ultimately be and how long it will last is anybody's guess. We are at the mercy (?) of the bankers, that's the way it works with a fiat paper currency. :-(