> Exactly my thought too. None of this is going to work. How can you cut wages
> in a consumer based economy and expect to consume your way out?
It's like the gold standard but worse, because the international currency actually circulates as domestic currency, so there's no easy way out. So you see the same kinds of pressures that exploded the gold standard, but without the same cracks... so the pressure will just build.
Mike Beggs