Currency fluctuations: Take the hedge off?
Many Happy Returns
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Is the Current Account a Macros of the Makros?
The current icount thing sounds like the macros of the makros. It's the whole country what's going in and out. But i think, you know, some of these in balances, if they do persist for a long period of time, ultimately cause crises. For example, lots of americans buying chinese goods, and then chinese people lending money to people in the us. To buy those s. Ultimately that thing isn't sustainable,. That did lead, potentially to the crisis that we saw in two thousand and eight interestingad. Certainly that's what ben benanki seemed to think at the time.
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