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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: SouthFloridaGuy who wrote (78511)2/5/2007 5:04:45 PM
From: GST  Read Replies (1) of 110194
 
LIG -- yes, except for one thing -- there is nobody else on earth running a nearly trillion dollar current account deficit. The Fed can do a variety of things, but so long as we cannot balance our books or finance our own deficits from domestic savings there is a very serious risk that the dollar will be worth what people outside the US tell us it is worth, regardless of what the Fed does or does not do. The real risk is that the Fed at some point becomes irrelevant. Trillions for a useless war. Trillions for tax cuts. Trillions to finance current consumption. Trillions to finance government spending. It is not exactly sound financial policy.
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