Posted by rahrens_1 on May 26th 2011 at 12:06 am
Well it would seem that since my last post on Belarus, see here, Belarus has finally fallen off the proverbial cliff and was forced to devalue the currency monday by 56%. This is a great case study in what will likely happen in Greece and ultimately North America. As noted in the above referenced article the one advantage Belarus citizen have is they have lived thru such events before. This is not to belittle the pain for Belarus’ citizens, but one has to wonder how American’s would deal with a 50% devaluation that cuts their effective salary by 50% while costs double as a result.
See zerohedge article here.