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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (96413)8/18/2008 6:42:41 PM
From: GST  Read Replies (1) of 110194
 
John, the people who are in trouble are those whose finances depend on the purchasing power of the US dollar -- now you tell me, are 350 million Americans who will face soaring prices in dollars hurt less than foreign investors? All they have to do is what they are already doing -- flee the dollar. Try living and working in the US and fleeing the dollar -- not so easy. To the rest of the world we will simply be those poor people with bad credit to which you charge a higher rate of interest because of the higher default risk. You see, there are people in the world with strong balance sheets -- we are not among them. And our balance sheets are falling apart fast as our "investment" in housing goes up in smoke, our federal debts soar and our current account deficit crushes the dollar.
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