For general discussion and debate. Possible talking point: Oh the Mighty Dollar!
Missing in all the financial crisis talk is the explosion in the value of the U.S. dollar. Add to that the almost unprecedented rally in short-term U.S. treasuries -- did you know there was a day in September when investors actually PAID interest to own a U.S. T-bill!!! -- and it is quite clear that America is, as it has been for decades, the world's safe haven.
What does this tell us about the fundamental health of the American economy? For years, Democrats and liberals in the media have pounded the table about Bush economic policies bankrupting the nation and leading our currency to become worthless. Yet, at the first sign of a global financial crisis, money came flooding into OUR dollar and OUR treasuries out of virtually ALL the world's currencies AND oil AND gold AND silver.
Does this mean:
- Things aren't as bad here as media are making out?
- Things are bad here, but just not as bad as elsewhere?
- These market gyrations have nothing to do with our systemic economic and financial problems?
