**Update: AE is becoming a very hot topic. I've heard it mentioned on radio and the news no less than a dozen times in the last 48 hours and since the President's speech before the U.N.
"The whole picture of risk-reward for emerging market currencies has changed. It is not so much that they have risen to our standards, it is that we have fallen to theirs."
Does "hope & change" mean no more American Exceptionalism?
"No one nation can or should try to dominate another nation. No world order that elevates one nation or group of people over another will succeed." ~ President Barack Obama before the United Nations
I believe this is the practical working out of America's elites and their self-loathing--lower standards of living for Americans due in part to a lack of pride in our history and our potential. Beware academics - there won't be as many teaching positions available at good salaries since fewer and fewer people will be able to afford the costs. Gotta watch out for those unintended consequences.