Mar 23 2008
Is It The Euro That Is Causing Global Problems And Not The Dollar?
It is an undisputed fact that the dollar is weak. The trade deficit run up by the Bush administration in financing the war in Iraq and the sub-prime mortgage crisis are just two of the factors that have driven investors from the dollar to its baby sister, the Euro. The resulting effect has been to see a rise in the price of oil above 100 dollars a barrel as the race for commodities in the markets has left currecy traders trampled under the rush to get out of the way. Oil, gold, even wheat seems preferable.
The US economy is brinking on recession, although we have yet to see one quarter of negative growth ( the definition of recession is two quarters of negative growth). Definitions aside, you can feel the mood of anticipation when you talk to realtors in some parts of the country. In South Carolina, a real estate [...]
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