Been writing about this forever and folks aren't fully realizing what is going. The crushing for the American PESO :) been talking here on the blog for months about folks will tell you about the DOW being over 10000 (meaningless argument) and things are looking up BUT when the value of the currency is declining at a faster rate of your investment returns you are loosing REAL wealth. Can you guys imagine if something happened globally and US debt holders would have to sell lets say 15% of the debt, if you think the dollar is slowly getting crushed now pray you don't see such an event.
The news here is the dollar and nothing else, that's the reason why the FED is keeping rates low. They are hoping its spurs some investments in productive areas but sadly it is not. I have no prediction on this dollar sinking more than I saw it years ago coming to this because the escalating deficit. We are now $1.15142 for the Euro and remember it was at these level before we had that steep market sell off to the March lows..
Have a great Thanksgiving.
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