the_pig_man

Forget About a V-Shaped Recovery. Maybe a W. Or L. And What About $?

The dollar bulls are pretty amusing to still be disparaging other currencies. The world is flat and getting flatter,and the US has finally pretty much managed to bring itself down to the level of everyone else out there what with its gigantic bailout costs that will ultimately show up (or not show up) on the US balance sheet. Look forward to a game of "let's pretend" the bailout costs are off book even as Mr. Bernanke runs new fresh new batches of Treasuries on his printing press. The Chinese will now slowly but surely diversify their dollar reserves into other currencies and demand higher rates of return on US
paper due to its riskier balance sheet. Can you blame them? An era has ended. What hath Wall Street wrought?