Wednesday, March 02, 2005


Dollar Watch: Asia Starts Planning

Asia To Set Up Monetary Discussion Group

You know Asia right? That hard working, diverse continent whose purchases of U.S. Treasury Bonds keeps our economy chugging along, allowing us to buy more of their stuff and in turn allowing them to buy more of our bonds...and so on.

Well, it seems that some of our Asian creditors are now having discussions on what to do about the dollar. Hmmm...

While I'm concerned about the value of the dollar and the ongoing impact of our government's spending spree, I'm inexplicably becoming skeptical of this dollar doomsday scenario. Oh, don't get me wrong, I think the dollar will continue to slide and our standard of living will continue to erode....but it won't overnight in some dramatic least I hope not.

But with Asian countries financing our spending habits and holding U.S. debt, can we really claim to be stronger, safer and more secure?

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