The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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From: Real Man	12/22/2009 3:04:58 PM
	1 Recommendation Read Replies (1) of 71456

Very good read. This Newsweek cover story probably caused the dollar bounce -g- An Empire at Risk We won the cold war and weathered 9/11. But now economic weakness is endangering our global power. By Niall Ferguson \| NEWSWEEK newsweek.com "History strongly supports the proposition that major financial crises are followed by major fiscal crises. "On average," write Carmen Reinhart and Kenneth Rogoff in their new book, This Time Is Different, "government debt rises by 86 percent during the three years following a banking crisis." In the wake of these debt explosions, one of two things can happen: either a default, usually when the debt is in a foreign currency, or a bout of high inflation that catches the creditors out. The history of all the great European empires is replete with such episodes. Indeed, serial default and high inflation have tended to be the surest symptoms of imperial decline."

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