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Well the dollar seriously could go, when the world stops trading oil in it. That's already starting to happening. Also the chinese and other large sovereign ba
by bitdiddle 18y ago
Well the dollar seriously could go, when the world stops trading oil in it. That's already starting to happening.
Also the chinese and other large sovereign banks don't need to necessarily dump their dollars. That would be shooting themselves in the foot. Kind of like Gates selling all his MS stock. All they need do is change the mix and slow down their purchases of dollars, replacing those with euros.
That's also happening, started several months ago now.
I'm not sure credit will be so hard to get. There's plenty of money around, just a lot less stupid money. For folks who are credit worthy there will be credit. This will be a new concept to many people.
- froo 18y ago> This will be a new concept to many people. Here's a little anecdote about your point as it is unbelievably true. I have a cousin, she's not too bright. Her first credit card was maxed out at about $10,000 so she applied for a second credit card to help pay off the first. It didn't quite dawn on her that she might have to stop the luxury spending.
- helveticaman 18y agoNot unlike eating a popsicle, reading this made my brain hurt. +1, but ouch.
- gscott 18y agoThe Euro stumbling is the only thing that I can see that will stop that. It is very possible, just the focus right now is on the US. Greenspan would have inflated another bubble (of some sort) and started talking down the Euro already. Bernanke is just too nice of a guy to even think of that.