>Any comments? Do we expect the fall of the dollar to be exponential
>as a result of some feedback mechanism reinforcing its demise, or
>will it just adjust a little more to the euro?
If we knew the answer to that question, we'd be trading futures, instead of posting to left-wing mailing lists.
This is one of those questions that Keynes was talking about in this classic passage:
>By 'uncertain' knowledge, let me explain, I do not mean merely to
>distinguish what is known for certain from what is only probable.
>The game of roulette is not subject, in this sense, to uncertainty;
>nor is the prospect of a victory bond being drawn.... Even the
>weather is only moderately uncertain. The sense in which I am using
>the term is that in which the prospect of a European war is
>uncertain, or the price of copper and the rate of interest twenty
>years hence, or the obsolescence of a new invention, or the position
>of private wealth-owners in the social system in 1970. About these
>matters there is no scientific basis on which to form any calculable
>probability whatever. We simply do not know.
Doug