Russian bomber jets resume Cold War sorties - Yahoo! News
Yep. It's Dr. Strangelove! War Day! The Day After!
Who cares about climate change when the Evil Russians are going after us?
Oh, I think that there's a more immediate threat based on our saber rattling habits:
China Threatens to Dump Dollars
Two officials at leading Communist Party bodies have given interviews in recent days warning - for the first time - that Beijing may use its $1.33 trillion (£658bn) of foreign reserves as a political weapon to counter pressure from the US Congress.
Shifts in Chinese policy are often announced through key think tanks and academies.
Described as China's "nuclear option" in the state media, such action could trigger a dollar crash at a time when the US currency is already breaking down through historic support levels.
It would also cause a spike in US bond yields, hammering the US housing market and perhaps tipping the economy into recession. It is estimated that China holds over $900bn in a mix of US bonds.
Here's what's really fun about that - if the Chinese were pushed by our arrogance into making such a choice, yes, they'd be cutting off their noses to spite their faces - BUT - they've got enough trade going to the rest of the world that it could be acceptable.
In our country? USAMERICA!
We'd have the collapse of the dollar on the world market - meaning, that a US Dollar would be worth - say - twenty-five Canadian pennies (stuff coming from Canada would cost four times more) or fifty British pence (ditto) or just over half a Euro.
The real fun would be that everything you buy at Wal-Mart now for cheap would increase in price by the fall of the dollar PLUS the rise in Chinese currency.
I guess that would reverse globalism in a heartbeat when our cost of doing business fell by 400% and we became instantly competitive and profitable again.
Assuming we could keep the lights on.
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