Fiscal Cliff: Sounds like IMF prescription for Asia 15 years ago

So the US Congress is still debating on what to do about their so-called Fiscal Cliff and of course, the media is making a big drama about it.

Hmm, so they are going to be "hit" by higher taxes and decreased spending - that was AGREED to happen years ago and this is the medicine that was prescribed to Asia when we were hit by the crisis of 1997.

So what's good for the goose is not good for the gander?

May sound callous but maybe they should allow this 'falling off' to happen, make the necessary changes to get out of their debt. Maybe the US dollar needs to be devalued (although I do understand their frustration at China for deliberately keeping the yuan low) - same goes for the Euro. It could be too high.

Perhaps globally, there should be smaller differentiation between currency values and real wages for a better world for everyone.

Let's all sing: This is the dawning of the Age of Aquarius, Age of Aquarius! 

hehe

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