I basically agree with the Soros thesis. The fact that it has dire implications for many of us should not blind us to the reality of an out-of-whack global economy. To give one indication of the scale of imbalance, global reserves of dollars has gone up several fold, to $5+ trillion in the past few years. This is about the clearest evidence of the US devaluing its reserve currency status, through excess issuance of paper claims on itself.