I postulated that China must necessarily fall into a depression, probably comparable to the American one from the 1930s, which in turn will spread to become a worldwide depression. In response, many readers asked whether in such a depressionary environment the price of oil would go up or down.
It´s just like the Titanic in a way, except that this currency-cruiser is not really about to hit an iceberg. Instead, it has been set on a wrong course from the very beginning (meaning 1971) with the rudder structurally tethered so that the course cannot be changed. Unfortunately, the inevitable consequence of this is that, the longer this ship sails, the greater is the likelihood that it will hit dry land – eventually. (And that eventuality isn´t too far away anymore, as July´s non-farm payrolls fiasco has shown us today!)
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