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What say you?
[...] The Classic Liberal asks if this is the end of the US dollar? Interestingly last night I was out getting coffee with friends and the shop (cafe vita) had one of the billions of local NPR stations playing, (or maybe one of the patrons was just listening loud enough that we could hear it. In any case…) We were talking about the economy and an interview show came on with 3 maybe 4 economists and one of them said something very interesting when asked about the decline of the US dollar. Basically he said that we Americans are much more pessimistic about the dollar than we should be because overseas it is viewed as the only viable reserve currency. The Euro has structural weaknesses that are really starting to come to light, China’s currency isn’t convertible, and no one else’s is strong enough to fill the role. I don’t know if that is true or not but it was interesting hearing it. [...]