Quote:
Originally Posted by Vexx
Please get out of your fantasy world... this thing took 25 years to build to the current disaster starting with Don Reagan. Plenty of blame on both bought-n-paid-for parties.
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The funny thing is this isn't nearly as big of a problem as it sounds. The dollar still represents about 62% of the world's reserve currency. Diversifing that isn't really a bad thing for anyone, to some extent not even the US. It makes it a bit harder for the US to raise capital, but it's not a crippling blow, and the US doesn't have as much of it's debt going overseas. What we're seeing there isn't the "collapse" of the dollar, but a recognition that putting all of your reserves in one currency isn't the best idea. Now if countries start dumping their current stocks of dollars, then it's time to start panicing.
Another thing is the same people saying this is terrible are likely the same ones who complain about so much US debt being in foreign hands. I guess there's just no way to win.
Though debating this with autobachs, I've been on
this ride before. I don't care to go again.
