Salient to Investors:

Helene Rey at London Business School says the US enjoys an exorbitant privilege from the returns on its assets held in the rest of the world.

Pierre-Olivier Gourinchas at Berkeley said before 2007, the predicted crisis was that the US would not be able to borrow anymore and the dollar would collapse. Gourinchas said the US is doing fantastically well on the financial-income side.

Read the full article at http://www.bloomberg.com/news/2013-03-28/proving-greenspan-wrong-shows-why-rey-became-worthy-to-bernanke.html

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