China will keep dumping United States Treasuries, no more financing of U.S. debt from Beijing. Oil will spike and then fade back to current levels, since prolonged high prices would hurt not only China but the U.S. as well. Besides, it would give Russia an easy way to replenish its cash reserves. The momentum is against the U.S.; its funk is deserved, and there’s nothing left to divert the slow, inevitable collapse already in motion.

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