Kmarion wrote:
=OBS= EstebanRey wrote:
Yeah and when the oil runs out/people start paying in Euros you'll be free to fuck up your economy without affecting ours.
Typical. Now for the real reason. Less spending by American consumers means less demand for Asian and European exports. Basic stuff.
Yeah and do you know why America can import so many European/Asian exports for them to buy? Do you know that the US is the only country in the World able to import more than in exports (i.e make a loss) and why that is the case? BECAUSE OIL IS TRADED IN DOLLARS! Now that is basic stuff.....
You can sigh and say "typical" like the US and Oil relationship is somehow misunderstood or an inaccuarte stereotype but I advise you do a little research into how the oil markets work.
Every country in the world has to buy US dollars to buy oil, and as every country needs oil it is the dominant force in the World market. Once the oil runs out or people start trading in their own currencies the US will have to start exporting more than in imports and it's economy will have a much smaller global effect.
The size of population and it's wealth mean it will always have some effect but not like it does now...
Sorry Kmarion, you may not want to face the truth but as soon as the US stops controlling oil, they lose the only thing that guarantees their "richest economy" status. Oil has provided the US with a free meal ticket since WW2 but like any good thing it won't last forever I'm afraid.
......look out here come China and India!!!