Such actions have occurred before without setting off a headlong flight from the dollar.
2.
For this country, a flight from the dollar will occur, and Americans will have to work much harder to achieve a dramatically lower standard of living.
3.
But barring new emergencies-- another terrorist attack, oil prices soaring again or a flight from the dollar that pushes long-term interest rates up sharply-- analysts expect the economy to maintain its momentum.
4.
"But in one case you pay interest to foreigners and in the other to your own citizens, " he said, " and if there is a flight from the dollar, then global capital is more likely to flee from the United States ."
5.
He points out none of the reasons advanced for the flight from the dollar in the midst of a booming U . S . economy-- the Mexican peso crisis, Congress's failure to pass a balanced budget amendment, the jettisoning of dollars by hard-pressed Japanese investors-- provides a wholly satisfactory explanation.
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