Recession

US Heads for Recession as Foreign Investors Rush for the Exit from US Dollar Holdings

Another cheery article about the US financial outlook

Excerpt:

The days of the dollar as the world's “reserve currency” may be drawing to a close. In August, foreign central banks and governments dumped a whopping 3.8% of their holdings of US debt. Rising unemployment and the ongoing housing slump have triggered fears of a recession sending wary foreign investors running for the exits. China, Japan and Taiwan have been leading the sell off which has caused the steepest decline since 1992.


Read the Full Article Here


|