Is The Dollar Dying (Again)
“The recession is very likely over at this point”–
Ben Bernanke
Ben Bernanke is pronouncing us out of the recession woods. He isn’t the only one. Obama administration members are saying they see the light at the end of the tunnel.
There are economic signs that normalcy is returning, too. Job loss is slowing down. Consumers are returning (sorta). And confidence is rebounding.
But, not everyone is so sure. A number of financial experts are saying that for the amount of stimulus, we should be rapidly pulling out of the recession. But, we’re still limping.
The dollar, as the chart shows, is declining. The worse may be far from over on this recent slide, according to one financial blog.
A Zero Hedge blogger isn’t buying Bernanke’s prediction at all. And they’re pointing out the scary movements of the dollar to prove their point.
The dollar may be heading for trouble and that can have a devastating effect on prices–something that wrecked the economy just over a year ago. The prediction for the dollar: 71. That’s another ten percent slide. Some experts say that might not be the end of the slide, either.
And Zero Hedge isn’t the only one questioning the news that the good times are here again.
Michael Covel, who wrote the Complete Turtle Trader and recently completed the movie “Broke: The New American Dream, replied to Bernanke’s assessment that the worst of the recession is over with a two-word statement:
“Ben’d over.”
Related posts:
- How to Make the Dollar More Valuable
- Does The Fed Have Anything Else in its Bag of Tricks?
- How to Profit from the Falling Dollar
- Is this the End of the Dollar?
- Another Nail in the Coffin for the Dollar
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
