Two recent stories regarding America and its global partners jump out to us:
- In Germany they’re freaking out because all the good manufacturing jobs are coming to America — courtesy of our super-weak dollar.
- And in China, they’re slapping tarrifs on our steel, accusing us of dumping.
The rest of the world now views us the way we, for decades, viewed the rest of the world. We complained about them getting our good manufacturing jobs, and dumping cheap-arse steel onto our shores, undercutting ours.
The world’s so-called reserve currency has weakened to the point that we’re regarded as a pesky third-world country, undermining developed mature economies.
Keep an eye out for this.