But I expect it to go down against the euro because of the global situation, thus exarcebating its undervaluation relative to the euro and the overvaluation of the euro...
I'm editing now. In the long run, we're all dead. John Maynard Keynes
And for the long term fundamentals, the bulk of US real wealth seems to have been invested over numerous decades in what will be an untenable suburban settlement pattern, which, while replicated to some degree in Europe, is not replicated to the same degree, and therefore a promise from a European source to meet an ongoing obligation is a stronger long term promise than a promise from a US source of the same kind. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
