The Euro is rising again, quickly. It passed $1.22 today. The UK pound is at $1.73. Even the Australian and New Zealand dollars are also higher. To give one example, two years ago a Kiwi dollar bought 48 US cents. Today it buys 64 of them.
If the dollar keeps sliding, how will this play in 2004. Will it play at all? Can it be shown as an example of what borrow and spend fiscal policy does to us?