epilogue

New US policies on employment, H-1Bs, taxation and immigration will hurt nobody but itself.

Had the US government respected the dollar, it wouldn’t have out-served its purpose as a global currency. China’s central banker Zhou Xiaochuan recently made strong case to dethrone the dollar. There’s only one problem: 70% of China’s $2 trillion in foreign reserves is in US Dollars.

On January 8, 2009, president-elect Barack Obama predicated that the US might have lost the most jobs in 2008 since the Second World War. He was right: The US Bureau of Labor Statistics released unemployment data on Friday (Jan 9) showing an unemployment rate of 7.2%. Worse, the unemployed numbers were revised downwards by 1,54,000 for November and December 2008. Around [...]