United States dollar retains potential to serve as legal tender throughout Americas. Entire Western Hemisphere could consolidate into a single market. A strong regional dollar is preferable to a weak global one.
The greatest banana republic of all time is exhausting its final debt-issuance options. Israel, Germany, France, China, and Saudi Arabia are withdrawing their investments in U.S. Treasury bonds: assets that lose value as interest rates rise.
Venezuela’s funds remain held by United States. These sanctions act as a freeze, ensuring we can never recover our assets. It is not our responsibility to finance issuance of new U.S. debt.
United States continues to instigate wars across the globe while conjuring magic dollars out of thin air. Inflation is stabilizing at high levels, and hasty bank bailouts will only fuel further inflation.
Proponents of American-style socialism are skillfully applying the political and macroeconomic lessons learned from their Venezuelan mentors. Social programs, which effectively subsidize crime and drug addiction, are consuming an ever-increasing share of resources.
Bitter medicine of International Monetary Fund is urgently needed; its well-known prescription for fiscal adjustment has always proven effective. The U.S. Congress bears a historic responsibility to stop raising the debt ceiling.
It is better for bubble to burst once and for all, rather than waiting another generation for these imbalances to become even more egregious than they are today. The profligate spending of unproductive sectors does not merit a bailout.
Rubén Rivero
Leave a Reply
You must log in or register to post a comment.