BRICS about to unveil rival to World Bank

Displaced Bama Fan · Jul 11, 2014

I don't think this is good for us.

http://www.newsweek.com/russia-china-india-ready-launch-rival-world-bank-258058

cbi1972 · Jul 11, 2014

Diversification of corruption is a good thing.

Bodhisattva · Jul 11, 2014

As more countries choose alternative competitors to the dollar, it may just force some sanity into our own economic policies.

cbi1972 · Jul 11, 2014

Bodhisattva said:
As more countries choose alternative competitors to the dollar, it may just force some sanity into our own economic policies.

My fear is that the response to increased competition will be the opposite of what it should be. We will probably get more protectionism which will be retaliated against, instead of more competitiveness domestically.

Bodhisattva · Jul 11, 2014

cbi1972 said:
My fear is that the response to increased competition will be the opposite of what it should be. We will probably get more protectionism which will be retaliated against, instead of more competitiveness domestically.

Your fear is well founded. Bad politics always seems to trump good economics.

crimsonaudio · Jul 11, 2014

Bodhisattva said:
Your fear is well founded. Bad politics always seems to trump good economics.

Yup, I see more war in the future to show how strong the dollar is.

How is we got to the point that is a likely expectation? Sad...

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