Word: crisises
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Still, it's not just partisan hacks and Chicken Littles who are worried about the dollar. There are (at least) three good reasons to fret. First, the events of the past 14 months have made predictions of impending economic doom seem a lot more credible than they used to. When...
There's not much to add to the first point - that really bad stuff can happen - other than to note that capitalism has just experienced the equivalent of a meteor near miss. But the second and third points demand more explanation. The reason a big federal debt undermines the dollar...
The problem is that after a decade of strong growth in China in particular, we now have an unbalanced system in which the dollar is overvalued against the Chinese yuan (among other emerging-market currencies). That has contributed to big U.S. trade deficits and, as China built up a huge...
See 25 people to blame for the financial crisis.
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