The NY Times has an opinion piece by Stephen Roach today, titled
Save the Day. The Op-Ed page is finally weighing in on the dollar's downturn:
"Optimists may draw comfort from the vision of an export-led renewal arising from a more competitive dollar. Yet history is clear: no nation has ever devalued its way into prosperity. So far, the dollar’s weakness has not been a big deal. That may now be about to change. Relative to the rest of the world, the United States looks painfully subprime. So does its currency."
2 comments:
Yeah, I'm not feeling very good about my dollars right now. In fact, I'm beginning to have a napoleon complex about them. I hope this doesn't last very long...
the napoleon complex, lol, that's a great line...
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