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Americans would be very smart to take a history lesson from the Japanese bubble economy of the 80s. They are still digging out from it at this point, with tons of real estate still upside down compared to the mortgages on them. The Japanese prime rate is still super low, (this week, their central bank voted to leave the rate at 0.5%). Effectively, the central bank there has few levers left to pull to try to kick start the economy.
XE today has the canadian dollar at 1.06980 US, which is pretty much record territory, and there are few signs that this is going to change any time soon.
Can someone please get the boy out of office and get the US back on track?
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