I suspect that we all [Doug?] agree that the international financial system is stressed by the massive US deficits. The solution (?) a weaker dollar also presents serious risks.
I don't know where the stresses will eventually show up -- probably in a country that has so far eluded our attention in a way that nobody expects. The question would be about the resilliance of the entire system -- at least that is my impression. I would be especially interested to hear from those of you outside of the Anglo-Saxon world. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
