commentary by Roger Erickson
The Bill Black Conundrum was postulated by Bill a few years back, in an email exchange, and has been extended at least once before as a celebrated oxymoron. Now it's been extended yet again, by the same oxyM sources. They certainly are industrious, even if dense.
Every country's Fx rate will be above average,
..Every country will be a net exporter,
Everyone's fiat will be "balanced" ...
.... and now ..... everyone's S&P Rating will be below average!
S&P threatens UK rating downgrade
Perhaps the US Congress will pass a "No Fiat Left Behind" bill?