Tuesday, August 21, 2007

Whither The Dollar?

We post this with "stay in your lane, Clacker" ringing in our ears.

Global economics is not our strong suit. Just a hobby.

But we're smart enough to know that people smarter than us are concerned about the state of the U.S./World economy.

Genuinely concerned.

Hat Tip to one of the smartest guys we know for shooting along the article. You know who you are.

And these smart folks are unconvinced that we're anywhere near out of the woods yet.

Crib Note: Foreign investors (who America needs to fund our outrageous debt level) got burned in the latest market correction. These foreign investors believe that the value of the dollar is now "shit", and will not pour more money into American markets at this time. Which will force the Fed to raise interest rates to convince foreign investors that the dollar is not "shit". Which will have a ripple effect across everything. Including the 2008 Presidential Race.

Stay in your lane, Clacker.