"The first panacea for a mismanaged nation is inflation of the currency; the second is war."
Not today, and not tomorrow: You can still spend your dollars and get value, as long as you are not traveling much in Europe or Japan.
It will not come next month, or next quarter: There is still time to covet and honor the American greenback as the strongest link of stability in the international financial system. You can still rely on your money, your banker and probably your broker, though you definitely want to keep an eye on your hedge fund manager.
But this is changing under our feet. The "golden moment" that enveloped the global economy for most of this decade is fading -- at least psychologically if not materially -- as we reach the end of an era of hubris in global affairs.
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