March 24 (King World News) – Much is made of America’s economy becoming one of the fastest growing economies in the world. It is all relative. Debt has grown even faster. The US dollar too has soared relative to other currencies, thanks in part to a relatively better economic recovery and of course the trillions from the Fed’s bond buying program. However, the US still has 47 million people on food stamps and unemployment remains stuck at 5.5 percent. The US is just the least ugly duckling while the rest of the world copes with its own serious challenges.
The US needs to grow and close the gap between the haves (who benefited from QE) and the have-nots (savers and pensioners hurt by zero interest rates). America’s growth is simply not sustainable because this debt load is heavily dependent upon the largesse of its creditors. In fact, the strong dollar makes America’s goods and services less competitive such that Obama and America’s lawmakers are threatening to enact a trade agenda attacking the “currency manipulators” aka trade wars.
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