The Hidden Danger of a Strong Dollar

The real danger, the hidden danger, is when we start talking about debt. Okay,

so to get this, you have to understand one key idea. A ton of borrowing around the world,

especially in emerging markets, isn't done in the local currency. Nope,

companies and even governments borrow in US dollars. Why? 'Cause it's stable

and everyone accepts it. Let's paint a picture here. Imagine a company,

let's say in Brazil or Thailand, takes out a big loan, 100 million US dollars.

On paper, at that moment, the numbers work. It's all good. But then,

something happens completely outside of their control. Maybe the US Federal Reserve hikes interest