Is the Dollar Rally Done?

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.

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