FT.com / In depth - America will need a $1,000bn bail-out
FT.com / In depth - America will need a $1,000bn bail-out: "America will need a $1,000bn bail-out
By Kenneth Rogoff
Published: September 17 2008 19:06 | Last updated: September 17 2008 19:06
One of the most extraordinary features of the past month is the extent to which the dollar has remained immune to a once-in-a-lifetime financial crisis. If the US were an emerging market country, its exchange rate would be plummeting and interest rates on government debt would be soaring. Instead, the dollar has actually strengthened modestly, while interest rates on three- month US Treasury Bills have now reached 54-year lows. It is almost as if the more the US messes up, the more the world loves it."
More to come.
By Kenneth Rogoff
Published: September 17 2008 19:06 | Last updated: September 17 2008 19:06
One of the most extraordinary features of the past month is the extent to which the dollar has remained immune to a once-in-a-lifetime financial crisis. If the US were an emerging market country, its exchange rate would be plummeting and interest rates on government debt would be soaring. Instead, the dollar has actually strengthened modestly, while interest rates on three- month US Treasury Bills have now reached 54-year lows. It is almost as if the more the US messes up, the more the world loves it."
More to come.
posted by Tolli at 4:28 PM
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