Monday, October 19, 2009

Quote of the day

Paul Krugman:
The point is that right now the United States has nothing to fear from Chinese threats to diversify out of the dollar. On the contrary, if the Chinese do decide to start selling dollars, Tim Geithner and Ben Bernanke should send them a nice thank-you note.

He's correct, but only as long as we want to continue with our ultra-loose monetary policy.

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