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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (36537)	3/23/2011 6:25:41 PM
From: ggersh	Respond to of 71407

Blame it on the consumer, just not buying anything, the nerve they have to save money! -nfg- "But the biggest gap between Greenspan and conventional wisdom lies in the role of monetary policy in causing the crisis. In Greenspan's telling, central banks were innocent and impotent bystanders in a global macroeconomic shift. Thanks to the end of the cold war and reform in China, he argues, hundreds of millions of workers were absorbed into the global economy. As GDP growth in emerging economies soared, their consumption could not keep up with rapidly rising income, and saving rose. The rise in desired global saving relative to desired investment caused a global decline in long-term rates, which became delinked from the short-term rates that central bankers control."