Stephen Roach has written an important commentary on the consequences of the falling dollar. He concludes that this situation may lead to a recession and still further declines. While he is avoiding political commentary, he importantly points out that no nation has ever depreciated its currency and seen prosperity as a result. This is important commentary from someone who knows Japan and its experience over the last 20 years. Too bad that our government chose to set us down the course of a declining dollar without speaking with the experts.

 

Submitted: Sep 25, 2007    Views: 350    Comments: 0    Likes: 9   


View Article: http://www.nytimes.com/2007/09/25/opinion/25roach.html?_r=1&oref=sl...


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