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Old 05-22-2009, 05:32 PM
 
12,867 posts, read 14,886,109 times
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U.S. 10-Year Note Falls Most Since June on Supply, Credit - Bloomberg.com

Dollar drops to 2009 low on ratings worries | Reuters

the U.S. dollar dropped to its lowest level this year on Friday, and was on track for its biggest weekly fall in two months, on growing concerns about the AAA-rating status of the United States. The dollar index was on track for a 3.6 percent drop this week, the worst week since March. The index has lost more than 5.0 percent so far in May, one of its steepest monthly declines over the last 25 years.

In afternoon trading in New York, the ICE Futures U.S. dollar index, a gauge of its value against six major currencies, was down 0.6 percent on the day after hitting 79.805, a fresh 2009 low.
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Old 05-22-2009, 05:36 PM
 
Location: Great State of Texas
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US Dollar Index went below 80 today for a bit but recovered. I'm watching it.

US Dollar Index
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Old 05-22-2009, 05:50 PM
 
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you might want to read this as well, with some interesting graphs:
Dollar Chart Tells a Much Different Story than Pundits Do -- Seeking Alpha
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Old 05-22-2009, 06:40 PM
 
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I think I hear people saying that the solution is to print more money and give it to people... well, that's what we been doing so far... lol..
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Old 05-22-2009, 08:47 PM
 
Location: Rockland County New York
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Quote:
Originally Posted by evilnewbie View Post
I think I hear people saying that the solution is to print more money and give it to people... well, that's what we been doing so far... lol..
Talk about insane logic. Our dollar will be worth nothing soon.
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Old 05-22-2009, 08:48 PM
 
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The dollar only appreciated against other currencies over the past 6 months because a) their economies were in even worse shape than ours (the UK) or b) the US was perceived to be a safer haven for capital than other economies. As there is a feeling that the recession has bottomed out, money is flowing out of the dollar and into stocks. Hence the decline.

The dollar will continue to be weak until the government addresses the chronic deficit. Given the bailout that is a long way off so get used to a weak dollar.
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Old 05-22-2009, 08:58 PM
 
Location: Rockland County New York
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Quote:
Originally Posted by Jaggy001 View Post
The dollar only appreciated against other currencies over the past 6 months because a) their economies were in even worse shape than ours (the UK) or b) the US was perceived to be a safer haven for capital than other economies. As there is a feeling that the recession has bottomed out, money is flowing out of the dollar and into stocks. Hence the decline.

The dollar will continue to be weak until the government addresses the chronic deficit. Given the bailout that is a long way off so get used to a weak dollar.
The recession has bottomed out? Not by a long shot. I would say that idea is wishful thinking for Wall Street brokers who see their big homes and swimming pools being auctioned off on the steps of their town halls.
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Old 05-22-2009, 09:51 PM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
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There is nothing to indicate the economy or housing has "bottomed" out except happy talk in Washington and the MSM.

The numbers speak for themselves.
Are foreclosures down ?
Are all the subprime holders now able to pay ?
Are the derivatives all settled ?
Are the banks solvent ?
Is employment rebounding ?
Are city/state budgets getting better ?
Has the Fed stopped printing money ?

None of the above seems to be getting better no matter how they spin the numbers. Losing value "less worse" than last month is not good news in my book.
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Old 05-23-2009, 04:23 AM
 
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Jobless claims in the U.S. continued to rise this week with the total number of insurance claims now running at a pace of 6.66 million. This marks the sixteenth consecutive week of rising claims and as such the data is deviating from the traditional script, which argues that after a peak in weekly jobless claims, the worst is over. However, many people are coming around to what central banks keep telling us, which is that this recovery is likely to be a tepid one. Today’s data certainly argues that point and provides a shot in the arm to the view that recovery will be far from robust.

We noted at this time last week that the boost to jobless claims from the Chrylser filing was not an aberration, which some were quick to take solace from. The fact is that the recession is costing far more than any recession that has gone before and in this case has toppled not just one, but more likely two of the nation’s automakers. GM has another week to file for Chapter 11 and most likely will. It says it plans to idle 36 plants, throughout the filing process, which could see them closed for nine weeks. That will create another boost to jobless claims that cannot and should not be ignored.
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Old 05-23-2009, 04:31 AM
 
12,867 posts, read 14,886,109 times
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here is an ugly little sidebar as our dollar drops :

http://www.miamiherald.com/business/nation/story/1057972.html (broken link)

the same clowns we bailed out by taking up all their bad deals and having the central bank take the losses are now bidding up oil so we have to pay them a fortune to go to work, if we have jobs.
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