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It wasn’t long ago<\/a> that we thought Ben Bernanke and ECB chief Jean-Claude Trichet were playing a high-stakes game of chicken.<\/p>\n Who would blink first? Who would raise rates, and send the other’s currency tanking?<\/p>\n The market — obviously — figured Trichet had the upper hand.<\/p>\n Wrong.<\/p>\n With Ireland, Greece, and Spain all the subject of serious sovereign default concerns, and with Austria now nationalizing banks, the idea of a rate-hike seems utterly laughable. Add in the fact that the continent’s manufacturing base was screaming bloody murder over all the jobs moving to the US, and you’ve got a recipe for a long, long period of low itnerest rates.<\/p>\n And that explains why the dollar is on such a tear<\/a>.<\/p>\n Join the conversation about this story »<\/a><\/p>\n See Also:<\/b><\/p>\n It wasn’t long ago that we thought Ben Bernanke and ECB chief Jean-Claude Trichet were playing a high-stakes game of chicken. Who would blink first? Who would raise rates, and send the other’s currency tanking? The market — obviously — figured Trichet had the upper hand. Wrong. With Ireland, Greece, and Spain all the subject […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-83409","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/83409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=83409"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/83409\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=83409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=83409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=83409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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