< meta name="DC.Date.Valid.End" content="20050825"> Amendment Nine: Dollar Sell-Off

Monday, November 08, 2004

Dollar Sell-Off

Here's an interesting rumor, certain to make my day a little more fun, China is continuing to sell-off the dollar, says FT. Beyond a general sense of "fear" that four more years of Bush will be, well, four more years of Bush, the column doesn't say much about why we're seeing our Asian trading partners so uninterested in our currency. There are a bunch of reasons, but before we go blaming the Bush re-election, can we blame his initial four years first? Even if Kerry had won, there would have been a slide right about now. Our trade deficit is childish. Our current account deficit is absurd. Our budget deficit is an example of adolescent decision-making. We'll break the 105/yen threshold today and the euro will set a new high. Will the Bush administration finally put some adults in charge at that point?