I agree that there are lots of scary outcomes. Past crisis, like in 97-98 were easy to handle because the USD #debt load was manageable. Now, the #USD overhang is around $25 T( in 2016)--- about 6 times the size of the #Fed's balance sheet--- and the Fed cannot help should things really come apart. A strong #dollar policy is not in anyone's interest.
The Emerging Markets Are About to Feel the Pain of a Soaring Dollar
I agree that there are lots of scary outcomes. Past crisis, like in 97-98 were easy to handle because the USD #debt load was manageable. Now, the #USD overhang is around $25 T( in 2016)--- about 6 times the size of the #Fed's balance sheet--- and the Fed cannot help should things really come apart. A strong #dollar policy is not in anyone's interest.
Struggling To Mount Resistance
You are right, but #USD are printed for more than 10 years.