The Dollar continues to gain strength against other currencies including the Yen and the Euro.
Dollar hits 6-month high versus Euro
While the MSM loves to print any bad news it can find about the US economy and act as if this is 1930 again, the US economy is doing OK compared to some other places around the world. the U.S. lower inflation and lower relative interest rates are serving to attract foreign purchasers looking for bargains.
Therefore, they are selling their currencies, buying dollars, and the U.S. dollar is rising. Part of the reason for this too is the strong action (some might say too strong) taken by the Federal Reserve Board over the past 12 months or so to eliminate volatility in the economy. Most of the rest of the world stood pat and just watched. Now that is starting to haunt them.
As someone told me in Ireland a few months ago, when the U.S. catches a cold, the whole rest of the world gets sick. I responded that the rest of the world needs to look out for it's own health too. I actually think that we are two to three months away from growing out way out of this down turn, as long as oil prices stay stable.
~ 3 Wood
Tommy McCook & The Skatalites
Silver Dollar
3 Wood..... I don't know crap about economics, but I do not think oil will stay stable:TEHRAN -- The Organization of Petroleum Exporting Countries could decide to roll over or cut crude oil production from existing levels when the group meets in early September in Vienna, Iran's OPEC governor Mohammad Ali Khatibi said Saturday.
Also: the $$ just fell back down again over the weekend due to that story ~
Dollar Falls Against Yen, Euro Before Housing, Inflation Data
The dollar weakened after the Wall Street Journal reported OPEC may decide to roll over or cut crude oil production when the group meets in early September ...
~ Your Spleen
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