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mk · 5280 days ago · link · · parent · post: An interactive graph of President Obama's 2012 budget proposal.
>It is really hard to say what happens if the dollar lost it's primacy, weather it would be good or bad for us. Certainly the cost of borrowing would go up, but capital would probably be allocated more cautiously creating more productive and risk conscious growth.
So I am in China right now... unbelievable growth. I mean, I really doubt it. I'm not sure if they are really on the path, but I know people talk about the Yuan as a global currency in the future. I'm not even sure what that means. Does that mean it's a good reserve for extra cash? And if so, isn't that just a global vote of confidence? I think there are so many flavors of sustain-abilities and unsustain-abilites. Also, boom-bust must favor a certain style of governance. Could the US two-party system be a result of holding a global currency? Sorry, a bunch of questions. It's just very interesting stuff at a very interesting time.