> Now, throughout this whole period the Japanese economy
> has been in a slump and the US economy has been more or
> less booming. The recent uptick of the Japanese economy
> is just an excuse for these tendencies to speculative trends.
The two are not in contradiction. Overaccumulation in the metropoles can be accompanied by growth in the semiperipheries (Taiwan is doing quite well right now, e.g.). Japan and the EU are indeed lending $300 billion -- er, make that 280 billion euros -- a year to the US, according to the Federal Reserve. We continue to run monstrous trade and current accounts deficits with the aforesaid economies. All this suggests the dollar has nowhere to go but down.
-- Dennis