The markets agree, the long dark tea-time is apon us

Well I love to say "I told you so", its more fun than "Doh, I misspoke". So for the record, I told you so. The G7 leaders issued a statement saying they are tired of Japan and China intervening in currency exchange rates by pumping billions in the dollar to maintain the competiveness of their exporters. The result, a weaker dollar - which is good for US exports and the aforementioned deficit, however its also bad for other overseas dollar investors. Consequently we have a nice slide of the dollar on our hands. Only time will tell if this turns into an express elevator to hell for the good old greenback.