That very thought sounds pretty extreme but what makes one think it can't or won't happen. Certainly most everything is going the wrong direction and our President and his party seem to want to keep going down the same road, yet even faster. And in the real world the actions they take or do not take have real consequences.
Editorial: Who's Turning U.S. Into The Third World? (Investor's Business Daily)
As bad as things are now with government deficits (federal and states as well), joblessness, inflation, and gas well over $4 per gallon in some states already and sure to continue to rise, consider this. How much higher and faster will gas prices go up if OPEC gives up on the dollar's shrinking value due to our inflation and the Fed continuing to create billions of dollars out of thin air so OPEC begins pricing a barrel of oil in some other currency? That means that on top of all the factors already driving gas prices up, if the USD falls 10% in value against another currency being used to price a barrel of oil, then for us the price of a barrel of oil goes up 10% even if everything else is neutral.
That is not a pretty thought and that is another reason that we need to do everything we can to develop all our energy resources and to stop spending money we don't have at an accelerating rate. Our economy and our nation's security and maybe our nation's survival depend on it.
