05-22-2006, 08:29 AM
|
 |
Speaker of the House
|
|
Member Since: Apr 2004
Location: Moon Landing Test Site
Posts: 921
|
|
Re: The Dying Dollar
While I don't claim to know much about economics I do find it fascinating. I just came accross this article from a Canadian paper that may shed a different light on the subject.
For example:
Quote:
...But the U.S. dollar has not yet adjusted to the euro and key Asian currencies, including the Japanese yen and the Chinese yuan. In the past 12 months, the euro has gained less than half a per cent against the dollar, though it is up more than 7 per cent since the start of the year. The yen, up about 5 per cent this year, has actually lost ground against the dollar since last May.
There's talk of higher interest rates in both Japan and Europe. That would make U.S. investments relatively less attractive, and add to the downward pressure on the dollar. Jen Nordvig, a currency strategist at Goldman Sachs in New York, pointed out that traders are continuing to sell the dollar short, mostly against the euro, but also against other key currencies. Short positions may account for as much as a quarter of all current trades on the dollar, he said.
|
Story here
__________________
Microsoft made only $16,005 in it's first year of operation.
I've been around since "Buy American" meant "Made in the USA".
|