Ah yes, bad luck. One of those things Heinlein was a master at dissecting. Choices were made, and pipers will be paid. Signing on to a currency that a histor

Ah yes, bad luck. One of those things Heinlein was a master at dissecting. Choices were made, and pipers will be paid. Signing on to a currency that a historically frugal nation can't individually control is perhaps not a wise choice when the others who influence the value of that currency have been historically, let's say, less frugal; spending on things that do not increase productivity but pushes the problem to the next generation; creating a bureaucratic structure that dissuades innovation because stability is considered more important, and so on. Yet the "answers" from Krugman and his acolytes such as the author is to spend future influence (what does the author think devaluation is?) to make things look better in the shower, and poohpoohing those who recognize that devaluation is short term theater. When these decisions don't work - we will call it bad luck.