I guess that the joyride can’t last forever – at some point you’ve gotta pay the tab. As my dad is fond of saying, “There ain’t no free lunch.”
We’ve already seen that this government will do anything to ensure dollar hegemony, but there are forces here that may be unstoppable. This administration has pursued a fiscal policy that is clearly unsustainable – while at the same time, allowing the rise of a formidable currency competitor in the Euro.
A run on the bank is hard to stop . . .