my euro essay from 2001
May 03, 2010 at 17:34 PM EDT
I wrote this in 2001, the euro has been an accident waiting to happen. It’s an unstable equilibrium, as Mike just reminded me I used to say. Like balancing a marble on top of an upside down bowl, if it starts to go it accelerates downward Vs the dollar, a stable equilibrium system, which is like placing a [...]