Solutions brought to you by the people who didn't see the problem?

If you have trouble understanding how America will surrender her sovereignty to the BRICS, then read this article:

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/16/AR2009061601887.html?hpid%3Dtopnews

President Obama, JUST LIKE PRESIDENT BUSH did, is seeking to expand Federal Government power in order to "punish" those firms found guilty of financial malfeasance. As long as we keep looking in the wrong places for the answer to what happened in the Crash of '08, then we will never find them.

The America credit system did not become unglued due to lack of regulation in 2008. It came unglued because we have reached a breaking point of trying to pass off debt based consumption as wealth. It is not.

Everyone talks about the fact that the BRICS don't have the domestic consumption that America has.

WAKE UP!!!

America doesn't have it either. It was all a mirage. What do you think is going to happen with increasing levels of debt (that will never be paid off in nomial terms) that America went under to buy all this stuff? We were buying things that we couldn't afford on credit that we should not have had. The party is over and all Washington can do (BOTH PARTIES) is try and come up with a "better regulated" way to have us go deeper into debt.

It is not going to work. And that is why the US dollar is doomed to fail. The Federal Reserve and the US Treasury are going to try and inflate their way out of this (they really don't have any choice in the matter). The BRICS (and other holders of US Debt and US Dollars) are going to quietly exit their positions, or use their dollar holding to acquire *REAL* assets. It will be a gradual process punctuated with bouts of extreme confusion and uncertainty as the world economic systems adjust to the new realities.