RE: Who the hell is buying US dollars???I think that Europe is looking far better, if you exclude the UK (and they don't consider themselves part of
Europe). The UK is in a similar or even worse situation as the US, but they are not part of the Euro...
Of course within the Eurozone there are differences (Spain + Italy looking bad), but in the Northern countries
there have been no excesses and lending has been conservative. Here in the Netherlands people are worried,
but there are no massive foreclosures and people have typically only one home (and have not speculated
in real estate, like in the UK or US). True a bank like Fortis is in trouble but that was because they (and the other participating banks) paid too much for the take-over of ABN-AMRO.
The main trouble in Europe stems from trouble in the US, which would imply that the USD has a lot further down to go!