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View Diary: Icelandic bank failures could sink us(UPDATED) (272 comments)

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  •  so big as to destroy everything (2+ / 0-)
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    G2geek, yoduuuh do or do not

    At this point the problems are so bad they're de facto devaluing the dollar. Circulated $1 bills will be suitable for wiping ... I hear semi-paranoid talk about the end of the dollar and the rise of the "Amero". I think this is predicated on Canadian tar sand production, which is flagging, and the fact that the Mexican oil company has never developed the same deepwater skills U.S. companies have.

    So it starts with housing ... gets into the banks ... and over the last few weeks it clips the airlines. What is next? Just look at what people do for a living - those on the discretionary side of the economy are in for an awful ride.

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