Inflation on the rise, foreclosures at records levels and the dollar’s in the toilet; have fun running on Republican fiscal responsibility, St. John! From our international banker this morning:
Heavy and continuing dollar sales for euro. Reportedly the dollar sales are coming from Chinese, Korean and Middle East names. The sales drove the US dollar to record lows against its basket of currencies and moved the euro to a record high. The move occurred without being tied to any particular news event. Fairly scary stuff as we don’t really have an good historical precedence…
Perhaps the Weimar Republic would provide some historical perspective?
To quote Atrios: WHEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!
Bonus dollar cover: is “sturzflug” German for “fucked”?
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