pherris's Journal: The Next Four Years - Borrowed Time by Paul Krugman

Today's commentary from Paul Krugman on Public Radio's Marketplace.

Long story short: the US dollar is tanking and investors in US debt have no good reason to stay invested. I'll bet that the Loonie will be trading at par [against the USD] by August 2005. If you have any debt with an adjustable rate change it to a fixed rate now. Those carrying a high debt load are really going to get hammered by next fall. Quite frankly it's pretty fucking grim. Thankfully between a low mortgage, two years left on a 4.5% car loan and my better half's student loans I'm fairly clear. I've got a few friends living off their credit cards and will get wiped out if the economy collapses.

For those outside the US buying US made goods: bargins will abound this summer.