March 08, 2007
news from abroad
From the Gray Goose's rehearsal of the Asian Flu:
Less than 10 years ago, the devaluation of the Thai baht on July 2, 1997, triggered a wave of currency collapses across East Asia and beyond.By December of that year, the currencies of Indonesia, Korea, Malaysia and the Philippines had depreciated by about 75 percent, on average. Then the ruble fell. The Russian government defaulted on its domestic debt. By the time the dust settled, Brazil had devalued the real, Turkey had devalued the lira and the Argentine peso had collapsed.
And here we thought Jean Baudrillard had devalued the real. Shoulda known. When my baby smiles at me I go to Real.
Posted by jane at March 8, 2007 03:38 PM | TrackBack