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Politics : Foreign Affairs Discussion Group

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To: Sun Tzu who wrote (169309)	8/18/2005 4:02:25 PM
From: michael97123	Read Replies (1) of 281500

"At some point in time those holding the dollar bag will be very sorry." Folks have said this about different nations holding the dollar bag since WW2. It never comes to pass for reasons that neolib presents. However, one day it will come true if we do not pay attention. But that could be another 60 years off. Krugman goes on and on about stuff like this but if you go back to the 70s and 80s, you will have krugman clones back then saying the same thing relating to japan as now is being said about china. And Opec was alot stronger then than now as well, while opec now realizes their eggs are in the growth basket, not in politics which did made their oil embargo ultimatley do more damage to them than us. Doesnt mean we shouldnt take heed to excesses but overall there has been no substitute found anywhere else for the american consumer.

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