WSJ covers it, but only half way down, in the "Before the Bell" segment.
Let me make clear what MSM is obviously not getting. Panic out of the dollar is the great tsunami that could rock the financial system to its core. If this escalates. It means soaring--double digit-- U.S. inflation, a near impossible ability for the U.S. government to finance its debt, a complete restructuring of the international financial structure. Asian financed borrowing to support consumption in the United States will be over. International trade patterns will completely change, with the U.S. in the role as major exporter, but at real wages that will be lower as a result of the crashing dollar inspired inflation. Think you are working hard now? Wait. This won't be a double dip recession. It will be a heart attack for the U.S. economy, followed by a stroke. We'll never be the same.
This is not a