I quite agree with the newsletter.travelling to the US from the EU one notices significantly higher food and service prices in the US each year.Both economic blocks are quite similar in size,population and economic output,but as it has been obvious for many here in Europe,US consumers have been living beyond their means and wars of attrition in Iraq and Afganistan were costing too much.Obama is trying to change this lifestyle,despite it was envied by many europeans.To what was said about China and Russia I would like to add my thought probably not shared by anyone that these two countries are trying to weaken or even ruin the US economy by pre3tending first to play by the rules and then trying to break them.It is not a level playing field when China keeps unreasonably low its currency to boost Chinese exports,copies western technologies in all possible ways breaking all codes of business and thus amassing huge reserves of foreign currencies in order to buy cutting edge Russian battleships instead of rising the puchasing power of the chinese.Russia seems to be more interested in strenghening economic and military ties with countries such as Venezuela,Cuba,Iran where market economy is a distant sound.Besides,these 3 nations are clearly opposing US and European values in all respects and purposes.So,I wouldn't be surprised to know one day there is a collusion between the government of China and its business people to act against the US economy as the key positions in business are held by the government nominees.So,to crown it all:one should have a watchful eye on the new players in a convoluted globalized world to keep your economy sfe and growing.

Let the world not be a scapegoat for your problems. You have been living on cloud cuckoo land for too long to realize that you are the architects of your own forthcoming debacles.