Hate It They Might, But Chase It They Must: Why The Eurodollar Isn't Going Anywhere---Yet!

Because as chronically dysfunctional as it is, the eurodollar at least keeps the lights on. The global economy can still function, even grow a little bit. It may not be true growth as is commonly understood and associated with the word “boom”, but it’s enough to fool Economists into predicting true growth is right around the corner or declaring it today; and just enough for enough people to believe the fairy tale. The current dollar system doesn’t work, but it isn’t total collapse, either. It’s the worst sweet spot ever conceived.

 

 

http://davidstockmanscontracorner.com/?p=192459&preview_id=192459&preview_nonce=5551969a81&preview=true

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.