Was what happened to the U. S. economy from 2003 to 2007 a run on the dollar? That’s certainly a different way of looking at things.
Was what happened to the U. S. economy from 2003 to 2007 a run on the dollar? That’s certainly a different way of looking at things.
1) The same thing happened elsewhere in the world w/o currency devaluation.
2) There had been other attempts at a subprime run up in the 90s. They were stopped by regulators. (See Bill Black)
3) Interest rates being held down so low for so long probably were a factor, just not the only one.
Steve
I’m sorry, but other than a credit boom nothing of any particular note happened in the U.S. economy. FYI demand for credit is demand for a larger money supply. Hard to argue no one trusted the dollar in the face of that.