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Re: [Pen-l] Michael Hudson: The game is over




On Jun 21, 2008, at 10:17 AM, Jim Devine wrote:

why does the Fed have to support the dollar exchange rate? Why not
simply enjoy an export surge?

They wouldn't mind a little of that, but too much and you get inflation problems, and a much harder time attracting the foreign capital that we still need in great quantities. My guess is that they've had about all the dollar depreciation they feel comfy with.


Doug
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