Paul Krugman: Falling Dollar Phobia - Democratic Underground

BzaDem

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Thu May-05-11 04:59 AM
Original message

Paul Krugman: Falling Dollar Phobia

http://krugman.blogs.nytimes.com/2011/05/04/falling-dollar-phobia/

"I continue to be amazed by the way Very Serious People find ways to worry about everything except devastating unemployment. They’ve now spent two years warning about the bond vigilantes about to pull the rug out from under us any day now; as of right now, the 10-year interest rate has fallen to 3.21 percent on weak economic data.

Now there’s suddenly vast alarm about the possibility of a drastic fall in the dollar."

--snip--

"What’s got all the VSPs so worried is that little jog at the end, which has brought the dollar roughly back to its pre-crisis level."

--snip--

"So where’s this dollar panic coming from? Well, like so many other things that have suddenly become big issues among the VSPs, it’s yet another reason not to do anything about unemployment."

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n2doc

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Thu May-05-11 08:00 AM
Response to Original message

1. Silver and gold dropping fast

Somehow the doom and gloomers aren't pointing this out either.

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Javaman

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Thu May-05-11 09:29 AM
Response to Reply #1

2. there are doomers and gloomers and then there are the

halfwit "gold will solve everything" doomers and gloomers.

Like I always say, "can't eat gold".

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orwell

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Thu May-05-11 09:58 AM
Response to Reply #2

3. +1,000...n/t

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