>>What, and bet *for* the Euro?
>
>That's not implausible. Europe is in the early stages of a corporate
>restructuring that could be very nice for shareholders. Regardless of
>that, the euro's virtue is that it's the non-dollar - financial
>markets that will soon be as lusciously deep as the dollar markets.
>It wouldn't take that much of a portfolio shift to cause the U.S.
>trouble. If the U.S. were a normal country, the combination of
>chronic current account deficits, large and increasing foreign debt,
>would be signs of impending disaster. But the U.S. isn't a normal
>country.
>
>Doug
As long as the U.S. foreign debt is denominated in dollars, I ain't worried...
Brad Delong