Is This the Wile E. Coyote Moment?

Paul Krugman

So, according to the story, one of these days there will be a Wile E. Coyote moment for the dollar: the moment when the cartoon character, who has run off a cliff, looks down and realizes that he's standing on thin air - and plunges. In this case, investors suddenly realize that Stein's Law applies -- "If something cannot go on forever, it will stop" - and they realize they need to get out of dollars, causing the currency to plunge. Maybe the dollar's Wile E. Coyote moment has arrived - although, again, I've been wrong about this so far.