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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: James Hutton who wrote (240957)3/16/2010 1:03:26 AM
From: PerspectiveRead Replies (1) of 306849
 
Krugman was misquoted slightly:

"It's true that if China dumped its U.S. assets the value of the dollar would fall against other major currencies, such as the euro. But that would be a good thing for the United States' financial elites, since it would make our goods more competitive, boost asset prices, and reduce our trade deficit. On the other hand, it would be a bad thing for China, which would suffer large losses on its dollar holdings.In short, right now America has China over a barrel, not the other way around."
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