Some who don't ever plan to travel outside the U.S., and haven't yet noticed inflation because they do all of their shopping at Wal-Mart (which buys most of its crappy merchandise from China, a country that keeps the price of its export goods artificially low by pegging its currency to the dollar) might say, "so what if the dollar keeps dropping?"Well, allow me to retort. In addition to contributing to higher oil prices there's this little nugget, courtesy of World Net Daily:
European Union now has world's biggest economy.
The European Union has overtaken the U.S. as the world's No. 1 economy due to the continued dramatic fall of the dollar, according to a Reuters report.
The U.S. Gross Domestic Product, or GDP, for 2007 is officially estimated at $13,843,800 billion. The 2007 GDP for the 15 EU countries is estimated at 8,847,889 billion euros, the report said.
That means when the euro yesterday topped $1.56, the EU officially became the largest economy in the world.
So, Wal-Mart shoppers, how does it feel to be the citizens of a second-rate country?
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