Wednesday, October 7, 2009

Fisk says the dollar is doomed. Whitney says, not so fast.

Seems to be a bit of panic mongering going on. My non-economist take on things is not to believe the hype. The US dollar will lose its reserve currency status eventually, and that will have some profound consequences for a declining US empire (don't expect much mourning from anyone except the handful that profit handsomely from the current status quo). It won't happen overnight (these things apparently take years or decades to materialize), and it won't be the end of the world.

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