An over-indebted company can fix itself up by, inter-alia, demanding deep concessions from suppliers.
The US should demand 50% price cuts from OPEC. This would save 1/2 a trillion dollars a year-- 3x more than what Congress is trying to achieve now, by draconian domestic cuts.
How to do that?
By hook or by crook.
When Rome was bankrupt, it raped Gaul, and became flush.
Britain did this, too, in the early 1800's: When it was bankrupt, following the Napoleonic wars, it took over India (from the East India Company), robbed it successfully, and became flush in less than 10 years.
The US did it too, in Gulf War 1, in 1991-- ending the Junk Bond Recession, and launching a 10-year bull market (1991-2001). And again, in Gulf War 2, in 2003-- ending the Dot.Com recession, and launching a 5 year bull market (2003-2008)...
In other words,instead of the US-- and Europe-- cinching their own belts, they would force their opponents to cinch theirs-- as Empires have always done.
Note, please: This is not a prescriptive comment, but a descriptive one. It is not a recommendation, but an analysis of what must come.
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