Is the world facing fundamental changes?

Recent events, including stock market falls, the escalating sovereign debt crises, US credit rating downgrade and a near-stalling of growth in the developed world is leading increasing numbers of experts to wonder if the world is facing some fundamental changes.

^^^

Currencies weaken

It's not only the euro which faces problems.

The Chinese authorities are now calling for a new world reserve currency to replace the US dollar following S&P's downgrade.

The greenback and the euro may never again be the strong currencies they were before the crisis struck (assuming the euro survives)

more here http://www.bbc.co.uk/news/business-14583201

sounds preposterous, but it's probably only a matter of time until that occurs.

I think the world knows that the euro, the kind of currency backed by a collection of varied economies/governments, won't work as long as the weak economies (Portugal/Greece/Ireland/Italy) sap the strength of the currency.

Any candidates? Swiss Franc? Yen?

I think the U.S. Dollar will be the one for a while.

it's just a guess.

Is there still a Swiss Franc? I'd say Germany but they've got the Euro now, right?

See? I have no understanding of this at all, just know that newscasters/experts have referenced this so it appears to be do-able. :hi:

And sad. :( Sigh. Where did we go?

and administration after administration goes over there and kisses their ass.

We need to change our Corporate Tax Code to place US Manufacturing on an equal footing with Chinese production and then see how quick they change their tone

Bwhahahaha! Bwaahahahaha! You're killing me!

:rofl:

In the US? Bwahahahaha! With what money will that happen?

:rofl:

Change is just something pols put in their pockets.

Everyone in Washington knows we have to get off the Corp Tax system we currently use. In fact it is already being discussed this as part of the next round of deficit Reductions. Both Clinton and Norquist have been discussing eliminating Foreign Profits Tax and Foreign Tax Credits. Both plans also call for a reduction in the Corporate Tax Rate as well

Where Norquist's and Clinton's plan differ greatly is the new effective Corp Tax rate which republicans would reduce greatly while Clinton advocates for a Corporate Tax policy that eliminates most of the deductions and lowers the Corporate rate to where the effective Corp Tax rate is now

I wish more DEMs would read up on this issue and advocate for their DEM leaders to be prepared to fight this issue

As usual the DEMs will be completely caught off guard and placed on the defensive yet again - such a "Winning Strategy"