May 7, 2003
From the desk of Jane Galt:Schadenfreude is an ugly emotion, but it can be a lot of fun, especiallly when applied to currency regimes.
Posted by Jane Galt at May 7, 2003 6:41 PM | TrackBack | Technorati inbound links"If and when the US economy starts to pick up more decisively again, the dollar's slide will likely come to an end. The positive scenario for Europe would be that the strong euro forces the politicians into action and compels them to fix the structural problems that afflict Europe."
no where in here is any acknowledgement of the us currency as a world reserve currency. this analysis is off the table if that happens to shift to the euro. then we will be writing articles like this about the sorry state of the us economy. reserve status is an historical accident. i can think of no necessity for this reserve characteristic to stay with the us (but if there is, please let me know)
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