Absolutely agree on the economic hangover, I've always contended that bush inherited the dot-com hangover.
I never thought of the currency fluctuation as a peg on some of these things, thanks for pointing that out.
A few weeks ago, there was pressure (unsuccessfull in it's attempt) to get the Chinese to float the yuan. They of course are keeping it pegged to keep their exports flying out the door.
Just the same as the US decision to float the dollar (a wise decision I think) and let the domestic market get some more teeth globally (to the ire of so many others).
Do ya think the Japanese, Chinese are buying up dollars to cover the float by the US treasury? I know several EU countries were buying them up weeks ago when the float happened to try to stave off the effect on their domestic manufacturing and exports to the US.
