Originally Posted by WT
We sell China West Virginia coal for their steel making processes. WV coal is extra special compared to that dirty Montana and Wyoming coal. However, that coal is good enough for Chinese power plants.
Germany also wants WV coal. They are shutting down all their nuclear power plants and are looking at the Hatfield and McCoy families to help them out.
Japan loves our beef. So does Italy. Switzerland imports about half their food.
We don't have to buy German or Japanese cars. Computer factories could be re-started here in the USA. We still have chemical plants. WE export gasoline to other countries.
The US is a lot more independent than many people think.
A lot of countries are starting to get their meat from NZ and other countries now though because they have less hormones and other crap.
We'll be "ok" until the rest of the world doesn't want the U.S dollar anymore. The chances of this happening will increase as the U.S. dollar becomes worth less. Which is happening. China will make a strong push for their currency. As said before, they hold a LOT if gold. Most of the world's product comes from China. At some point it is very likely that it will make sense for countries to use the Chinese currency.
Its not a doom or gloom situation but very well could be.
Something REALLY needs to be done about our spending.
Ironically, we always speak of Obama in relation to Nazi Germany. We can actually learn something about our finances from post-nazi era Germany though.