re: Spending Addicts

By the way, Ryan, nice to have you back! Robert Samuelson has a Washington Post column discussing the possibility of precipitous drop in the dollar. He absurdly dismisses the impact of budget deficits, and focuses purely on the $665b trade deficit (he still ends up with a scenario not so different from those theorized on at Boys' Weekends). When you consider that somewhere around half the $500b budget deficit is being financed by foreign investors (not to mention commercial and private debts), we're dumping nearly a trillion dollars (10% of GDP) onto the global markets each year. That is just unbelievable. Meanwhile, Bush claims he is going to fight for a strong dollar, not surprisingly the currency markets think he's full of shit.