"Japan can live with a weaker dollar but it has a vested interest in keeping U.S. interest rates low"
Oh my, the apprehensive, nee cowardly, Euro-bourgeoisie. I'm sure the U.S. hegemon is quaking in its boots. First, eager, more than eager, to help Anglo-American death squads mop up the mess in occupied Iraq, as long as open bidding on reconstruction contracts was in play. Now, with a golden opportunity to parlay the super-charged Euro into a new, less neo-liberal and more social-democratic accumulation model at home and abroad (as one of many possible examples, conceivably giving away lots of cheap loans and grants-in-aid for health and education investment to the starvelings of the Global South, if they in turn promised to stash their currency reserves in euro-denominated liquid assets) all the Franco-German core of the EU can do is issue complaints that the cheap dollar is undercutting its export competitiveness globally and its export sales to the US specifically. I suppose it's too dangerous to cut the cord of greenback primacy altogether when the neo-cons are already cornered by demagogic Democrats in an election season -- they may come out with their fangs bared and drop tactical nukes on Iran or North Korea (or whomever the bad guy flavor of the month may be).
John Gulick
John Gulick
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