The Bush era is a strange amalgam of conservative beliefs that have their roots in Latin American juntas rather than British toryism. One of the beliefs that is sadly lacking is the belief in a free market. If the Bush people actually believed that currencies are subject to market pressure, they would be trembling in their beds. Why? Reading the NYT story, today, about the Japanese and Chinese position in American dollars explains why.
Intro grafs:
“As Americans embark on another season of debt-supported holiday spending, they might want to give thanks that Masatsugu Asakawa is still buying in America, too.
Mr. Asakawa, 46, is the top official at the Finance Ministry here responsible for managing the largest portfolio of United States government securities in the world, worth a staggering $720 billion. As the dollar has slumped this fall, many investors have started to worry that Mr. Asakawa and his counterparts elsewhere in Asia will be tempted to pare their holdings, perhap
“I’m so bored. I hate my life.” - Britney Spears
Das Langweilige ist interessant geworden, weil das Interessante angefangen hat langweilig zu werden. – Thomas Mann
"Never for money/always for love" - The Talking Heads