The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Skeeter Bug who wrote (24604)	11/23/2009 5:01:42 PM
From: axial	Read Replies (1) of 71475

"I am genuinely not sure what happens next. Having narrowly avoided a Great Depression by using massive fiscal and monetary stimulus, we are now in uncharted waters. Does the recovery we've seen in fits and starts have any legs at all, outside of the major emerging markets? Or is it a mirage? I don't think it's possible to infer from the stock market rally anything resembling a sustained recovery. The third quarter GDP number of 3.5% growth was at least half due to one-off government measures. In any case, the U.S. consumer is constrained by horrible balance sheet problems – excessive leverage and severely reduced real estate values on the assets side. The stock market rally has been largely due to near-zero interest rates and a weaker dollar. In foreign currency terms there's been no rally." --- Why Niall Ferguson is still bearish theglobeandmail.com Jim

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