The disappearing dollar

[unixronin]

This opinion article from the Economist, from December, explains why the dollar is in trouble world-wide, and what this could mean to the American economy.

I've been trying to figure out who tipped me off to this, but I can't find the original link I followed.

Comments

[dafydd.livejournal.com]

I've only glanced at the article, but my first reaction is "How is America's fiscal stupidity of today any worse than it's fiscal stupidity of the 70's and 80's?"

[rbos.livejournal.com]

I think "because it's cumulative" is a big part of that.

[unixronin.livejournal.com]

I don't think he's arguing that it's necessarily qualitatively much worse; more that it's been going on for 30 years longer now, and we're now in a uch weaker global economy to start with. It's not so much that we've got a bigger hole in the side as that we've left it unpatched for 30 years, along with all the new holes that have developed, we've taken the attitude that "Well, we haven't sunk yet so it must be OK", and the ship has taken on so much water it's foundering.

[sierra-nevada.livejournal.com]

The question is always, "what percentage of GDP?"

[unixronin.livejournal.com]

Indeed. And, I confess, not knowing the data the conclusions in this opinion are drawn from, and in any case not being any kind of an economist whatsoever, I have not checked the author's facts to see if they support his conclusions.