[Futurework] The big slide?

[Keith Hudson]

It is possible that the events in Iraq are the cause of the weaker dollar 
that has occurred in the last day or two and that this is the beginning of 
a big slide -- much overdue, of course, in view of the trillion dollar 
trade deficit. If it continues, then this will cause higher prices to the 
American consumer for those items that are imported and this will occur 
long before American business can take up the slack. Greenspan might feel 
obliged to raise interest rates in order to prevent too steep a slide in 
the value of the dollar and this could then trip off the beginning of the 
personal credit card debt crunch -- again long overdue and in need of 
correction. We could now be in for bad times.

Keith Hudson
Keith Hudson, Bath, England, <www.evolutionary-economics.org>
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