"WARNING," he warns us self-aggrandizingly, "FAIRLY WONKISH." Actually, it’s just fairly foolish. So the dollar has been declining against most foreign currencies. Krugman wonders whether it is "recessionary" -- and then gives the game away when he proceeds to ask, "OK, so how do we make this story more pessimistic?" Turns out he really can’t do it, which is surely a first for him.He’s discards the idea that the falling dollar is inflationary, saying "The big dollar fall from 1985 to 1988 wasn?t notably inf[...]
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[Source: The Money Blogs]
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