James Fallows on NPR’s MarketPlace. If you had to imagine on thing beginning the chain of dominos, it’s the dollar. What’s holding it up, is a sense by the Chinese that they have to subsidize our buying power to keep things going.
When the dollar falls, then suddenly, people cannot sell their houses.
Then you have this cycle.
What’s to blame? This is something most Americans are benefitting from. For an aging population, we are outsaving our savings. Looking back, for example, on the 9/11 crisis,
Oil now costs about a dollar and half more than
The fundamentals of the economy are now being…