Re: OT World Ecomonmics - rodg
posted on
Apr 05, 2008 10:36PM
I do NOT know about the "Blind faith" aspect of your post. With the internal economy concerns and all to one side, there is the Need for a standard or reserve currency in international economics and while national currencies reflect (or suppose to reflect) the strength of the nations internal economy with respect to the international economy there is still the need for a international standard for comparison purposes and so long as one currency holds that responsibility or accepted expectation then that currency has to have an ever increasing float to reflect growth in international trade. Thus, though the internal economic situation may well be less than desirable internally or even less than desirable externally the need for an international standard remains and who else can assume that roll right now. The fact that there are so many stresses being felt to noticeable degrees internationally means that there is still hope and the International Reserve Currency still matters. The adjustments or the refusal to allow such adjustments internationally are part of the equation as well. Thus it is ugly for others as well and in part due to their own doing or refusal to do as is/was needed. The outcome is NOT clear to this individual though there is/will be costs. That is clear.
Like it or NOT.
I like NOT!
Old Joe