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The S & P Goes Bearish On the U.S.

Is this the first domino in the next global financial crisis? It’s possible. Today the S & P revised its long-term credit rating outlook for the U.S. from “stable” to “negative.” The immediate result has been a flight from risky assets and anything linked to optimistic views on global growth – gold and Treasuries are up, …

Is the dominance of the dollar bad for America?

The conventional wisdom about the global dominance of the U.S. dollar is that it brings tremendous benefits to the American economy. U.S. firms can conduct their business internationally in their own currency, mitigating exchange-rate risks and transaction costs. Most of all, the U.S. government can finance its deficits at extremely low …

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