US losing confidence vote as investors flee
“The situation is getting worse, and the risks are that it could get very bad,” said Martin Feldstein, head of the National Bureau of Economic Research. “There’s no doubt that this year and next year are going to be very difficult.”It is unsettling to watch the world’s reserve currency disintegrate. Commodities from gold to oil and wheat are taking on the role of safe-haven “currencies”. The monetary order is becoming unhinged.