Formerly NE North Dakota, now NW MN | I have to push back on that a little. I haven't seen evidence yet that we are no longer the place to be when everything goes "risk off". We're still the reserve currency. If there's a looming global slowdown or catastrophe or whatever, I still think treasuries get bought like crazy and the greenback goes lower.
I know our country is insolvent. I get that we have a debt crisis, but someone keeps buying our treasuries. (Ok, so like a 1/4 of them are being bought by the federal reserve...... still, that hasn't been able to precipitate a weaker currency yet).
I think the macro conditions necessary to weaken our currency are still the same as they were in 2004-2008. Moderate to tepid growth in the U.S., with the perception of safe and abundant growth elsewhere. |
Doji
