The author's conclusions would be more persuasive if the USD hadn't gotten back nearly a whole year's losses in a month and a half, but the context provided is excellent and the thinking is clear.
It's just that the facts have kind of turned around on the thesis.
But that's not really damaging to the paper itself.
On Thu, Sep 11, 2008 at 9:32 PM, <dredmond at efn.org> wrote:
> Intrepid economics blogger Brad Setser (http://blogs.cfr.org/setser/) has
> a fascinating new report on the credit machinery of the post-American
> world:
>
> http://www.cfr.org/content/publications/attachments/Debt_and_PowerCSR37.pdf
>
> It's quite extensive, but well worth reading.
>
> -- DRR
>
> ___________________________________
> http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
>