Was a time not too long ago, when leaders and citizens of a society enjoyed making, buying, and selling their own goods; when trade and economy depended largely on what people provided and purchased from each other within their society's borders. What happened elsewhere in the world was of little concern, and troubling news from abroad did little to no damage to blissful prosperity and self reliance at home. Ignorance of what happened overseas could ordinarily enhance bliss at home. But, as WWII, the Viet Nam War, and Alvin Toeffler's book 'Future Shock' warned, those days were coming to an end.
And they are ended now. The NY Times ran a story this morning of titanic importance to investors around the globe. It is a very frightening story for investors, markets, economists, politicians, 401K holders, and pension plan holders, and may affect all Americans if the story's events play out. The title of the NY Times article is Buckle Up for the Dollar's Ride. Caution, if you prefer blissful ignorance of potential economic calamity, read no further. If you find comfort in contingency planning, the following quote from the article may prove beneficial.