From 2001-07, he argues, the dollar underwent a long, steady decline against the euro, tacitly encouraged by U.S. monetary authorities. In response to the dollar’s decline, investors diverted capital into inflation hedges, notably real estate, leading to the subprime bubble. … Continue reading (WSJ) Robert Mundell Believes there is a Deflation Risk for the Dollar
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(WSJ) Robert Mundell Believes there is a Deflation Risk for the Dollar
From 2001-07, he argues, the dollar underwent a long, steady decline against the euro, tacitly encouraged by U.S. monetary authorities. In response to the dollar’s decline, investors diverted capital into inflation hedges, notably real estate, leading to the subprime bubble. … Continue reading (WSJ) Robert Mundell Believes there is a Deflation Risk for the Dollar