Here’s a chart to start your morning. The dollar is down, and gold, oil and most everything else is up … for now.
So, is the dollar rally short-term? Almost certainly, if history is any guide. All the major trends are still down. But can the dollar rise further from here? Yes, it can. Be careful out there.
IN OTHER NEWS
Jesse has some great charts on the economy today — specifically household balance sheets and the national debt. Warning: They will depress you. That said, you need to see them anyway.
George Washington of George Washington’s blog is making me Hulk-Smash Angry with his latest post: Government Is Trying to Make Bailouts for the Giant Banks Permanent (hat-tip Yves at http://www.nakedcapitalism.com/
Meanwhile, Britain Could Break Up Its Big Banks. What a novel idea. I mean, it’s so obvious, you have to wonder why our government isn’t doing it? I think we all know it’s because the U.S. government has been “captured” by the Big Banks.
Barry Ritholz asks: “Is the Recession Over?” My answer: Not for Main Street, hell no. But GDP grew by 3.5% in the most recent quarter, so there you go.
Related Posts
- Wednesday Charts: Is This Dollar Rally for Real? (08/26/09)
- Setting Targets for a Potential Dollar Rally (10/26/09)
- Where Does the Dollar Go From Here? (01/04/10)
- Bullish Dollar has Stocks and Commodities on the Run (06/15/09)
- Dollar Up and Gold Down (07/23/08)
{ 1 comment… read it below or add one }
Sean,
3.5% Growth…that is a lie…like virtually anything said from Washington these days. The actually economy of the US has been declining since 1970 in terms of real wealth and production and we are now at the breaking point…they can’t print money fast enough…..shades of Weimar Germany 1923.
Jay G