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By Francis Ferguson (about the author) Page 2 of 2 page(s)
seeking. That nations are cautiously moving out of dollar holdings is revealed by the rather steady overall decline in the value of the dollar over the past three years. This will continue.
With the falling dollar, rising import prices and declining wages and salaries for American workers, the US is headed for a radically different lifestyle. Until US wages fall far enough to make us competitive with workers in developing nations, our decline will continue. Globalization let this evil genie out of it's bottle, and it's not clear that anything can force it back.
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