jdl51

King Dollar Roars Back

With 10 trillion in debt and rising at the rate of $700 billion a year (don't forget those little off budget items, like Iraq) the world will be awash in U.S. debt for the foreseeable future. I expect interest rates to rise to entice the world to swallow this tsunami of debt which will force our floundering economy to grind to a halt. Then we'll see how the dollar does. Might happen even sooner if any of our friends decides to get out from under their treasury holdings, like China, Russia and Japan.