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Originally Posted by al_bundy
it's going to be worldwide since all the protected export economies will have to open up or face recession as well. not like the US will be the losers and everyone else will keep living it up.
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I think that's about what will happen. At least with the way things are now, China cannot afford to stop taking USD. They will keep buying our paper even if they do not want to because they are not going to go over the waterfall to see what happens next. They know it just as we know it. That's why the smarter people in power (Merkin, Chinese and others) want to see the situation defused gradually. So the Yuan creeps up against the USD and the Treasury no longer pounds the table over a strong dollar policy.
If we are really lucky, they will back the world away from the precipice in time to prevent more than a few members of teh crowd from pitching over the edge.
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"And Jesus spake, 'Become thou now fishers of adjustable rate mortgages'" - New Conservative Bible
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