[lbo-talk] Coming Currency Shock

[Eugene Vilensky]

> I think speculation about unlikely events isn't very productive; for
> instance, whatever made them 'suddenly' do whatever (we've discussed
> before why it appears that the savings rate in the US is "lower" than in
> other places) probably either would cause other things or would have
> been caused by them -- that might have far more interesting 
> consquences.

Well said, and maybe it's that I'm unclear on many fundamental
economic concepts, so the situation is confusing, i.e. America is
running unsustainable policy but a change in Americans' consuming
habits would be detrimental for the whole world so everyone will do
what is in their power to maintain the current system?  All this talk
of inflating the way the debt seems to be a real pocketbook issue. 
Rising inflation and stagnating wages and employment doesn't sound
appealing.