I may as well just give in.
Yup, the dollar is going to zero...we’re all going to die, it’s all bush’s fault, Europe and China are the only places to invest, and speculating on currencies is safe. Oh, one more thing, the WSJ is going to have a fashion segment...
This is getting quite serious. The Bank of Canada kept rates unchanged, the Bank of England is indicating the same, the Aussies are considering rate hikes, the European Central Bank is holding the line, but the Fed reduces rates 50 BPS and indicates more of the same, e.g., they’re more worried about a slump than inflation of the money supply. This, while Japan and China are reducing Treasury holdings, and the Treasury is looking at covering government’s suddenly expanding deficit with increased issues at yields foreign investors already indicated lackluster interest in in August. And Alan Greenspan is proving to be the Jimmy Carter of former Fed chairmen. What a perfect storm.
“The housing market, however, showed signs of cooling. Data from the Council of Mortgage Lenders revealed a stark 12pc decline in mortgage lending over the month, around twice the average fall in August.”
You mean the fed cut did not keep the housing bubble going?
This is what happens when you run colossal trade deficits. And you “free trade” idiots — don’t bother me.
good news for the U.S. manufacturing sector and for investors in foreign holdings.
Overall the dollar was overvalued anyway.
I do not see this as a big deal or even a small deal.
I think it is all related to Gasoline prices, the US is most effected by the rise, Europe much less. Overlay any chart of interest and the relation might become apparent. I remember when the Dollar was 1:4 to the Deutsch mark, it never returned to that. Gas price today, here, 3.45 premium, at some point it has to show.
Ping
Free traders told me not to worry. A worthless dollar is awesome for some reason or another.
The $US has nearly reached its low against the $EU of a month ago. The thesis of the essay fails.
Higher crop prices! Yay!!
Best thing that's happened for American business in the last 3 decades
'Ain't it great?
It's good for everyone.............except America..........