I'm sure a lot of people would be amused if the dollar fell through the floor, hubris, nemesis etc, but it won't be the people who deserve it who'll suffer. Cheney has already apparently moved a substantial portion of his ill-gotten gains into euros, Halliburton have moved to dubai.
No, as much as we might smirk (and yes I probably will a bit), it's people like us, the middle class and the poor, those with mortgages and jobs and paychecks and next to no savings who'll get it in the neck.
People died of poverty, cold and starvation in 1928, I desperately fear 2008/9 may see a repeat. I'm trying to be very careful what I wish for. keep to the Fen Causeway
I agree with the point that a collapse will be bad. Very bad. Not contesting that.
But I think there's nothing we can do either way. We're very close to a steep fall of the dollar. When that happens, either the masses panic and there's a run on the bank, leading to a crisis and quite possibly war, or the masses don't. They probably will.
So I hope that the financial meltdown will not take down any major bank or hedge fund and that the dollar will decline gradually. But I don't see a reason to be responsible for speculation (or wishes, for that matter) when they can't affect anything.
To trigger a precipitous fall in the dollar, you need to be able to influence the decision of millions, dump billions of dollars of your own in short time, or to have friends in high places in China, Japan or Saudi Arabia.
