|
Yes Iraq did and is probably one of the real reasons we invaded. Countries have been forced to keep large balances of USDs on hand to pay their oil bills. If they no longer need to do this... they won't. This kept our currency stable.
Whether this happens or not is quite frankly besides the point. Our domestic economic policies to this point have exposed us to this possibility. Regardless of who was occupying the White House.
Most of those economists who wrote paper after paper on Free Trade have disappeared. The results are in. It doesn't work unless you are a multinational company.
Free Trade means some countries win (those with cheap labor or resources) and some lose (everybody else). If you are a corporation in both countries, you reap the benefits and could care less what the unemployment rate is in the losing country. Unfortunately.. I do care.
|