Why Didn't the Dollar Crash?

Brett Dobbs at The Big Think asked me to submit a question for Paul Krugman. I asked, "Many people thought the crash of the dollar would lead the economic downturn. Why didn't that happened?"

The complete interview is here (and he answers much more interesting questions than the one I asked!). The topics and questions are:

• The Return of Depression Economics
• Changed Economics, Shadow Banks
• The Fed's Response to the Crisis
• Revamping the Credit Markets
• Paul Krugman Responds to Tyler Cowen
• The Bailout for the Big Three
• The Post-Consumer Society
• Gordon Gecko and the Recession Spending 
• Spending
• Paul Krugman Answers Mark Thoma
• Meeting President Bush and Going into Government
• Becoming a New York Times Columnist
• Will future generations hate us?
• Is there a bigger economic crisis looming?
• How will this age be remembered?
• Can the US stay competitive with China?
• What is the legacy of the Iraq war?
• Iraq and the Media
• Untangling Iraq
• Should we raise the retirement age?
• When is a hand up a handout?
• Are we approaching a healthcare crisis?
• Do Unions still matter?
• Is the American political system broken?
• How do we fix the education system?
• Is the income gap growing?
• Are we in a recession?
• What does the rash of bankruptcies mean for the economy?
• Have we seen the worst of the housing crisis?
• Is American capitalism inherently wasteful?
• How has America changed in your lifetime?
• What forces have shaped America?
• How do you find your economic philosophy?
• What challenges does economics face?
• Academia Today
• What has been the impact of international trade?
• What will be the legacy of the Bush administration?
• Celebrity Life
• Has America taken self-interest too far?
• What do our mistakes say about us?
• Do economics explain everything?
• Who Are You?