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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Earlie who wrote (222969)2/20/2003 5:51:32 PM
From: GraceZ  Read Replies (3) of 436258
 
The US buck has been smacked for 20% over this past year against the global basket of currencies. This ought to be headlined in black-edged front pages across the nation, but of course, it is "of no consequence".

Is it of any more consequence then it's seemingly endless rising last year? When the dollar was rising was it correlated to the trade deficit and subsequent foreign investment flows falling?

Pointing to the dollar right now is a little like pointing to the last week in gold and saying it's down or looking at the last twenty years, and saying it's down. Whether gold is up or down depends on your time frame. Unwinding long held structural short positions takes time and price (as does unwinding long held structural long positions).

Here's my answer to Patron:

Message 18606025

Meanwhile I'm still waiting for the trade deficit to be a problem.....consider Japan has had a trade surplus as long as anyone can remember.
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