Hello everyone! I want to start today with a great big THANK YOU to everyone who sent along prayers, thoughts, good wishes, and everything else to me last week… Yes, it’s me! I’m going to take a stab at writing again after two weeks… It’s been a turn on Mr. Toad’s Wild Ride the past two weeks, but I’m here… I’m out of cancer pain… And… Ready for life’s next fork in the road.
[Read more...]Dollar Rallies on Greek Tragedy
January 15, 2010 By Leave a Comment
The euro (EUR) has led the non-dollar currencies down versus the dollar overnight. After spending three days this week hovering back and forth over and under the 1.45 handle, the euro finally succumbed to some selling.
The selling is being blamed on the Greece story once again… I mean, come on! Haven’t we already been there, done that, and bought the T-Shirt, with Greece? But here we are, this morning, looking at the euro trading below 1.44… And all the other currencies have backed off versus the dollar… Even the Swiss franc (CHF), and Canadian dollar/loonie (CAD), have backed off overnight. And of course, in keeping with the trading theme of 2009, the only currency to rally with the dollar is the Japanese yen (JPY)!
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The Folly of Fantasyland
In the early days of making the film I.O.U.S.A., we made the decision to stick with Congressional Budget Office (CBO) numbers, but not because we inherently trust them. We enjoy parsing the shadow government statistics produced by John Williams (at shadowstats.com) as much as the next armchair economist. But the CBO numbers are theoretically conservative, and whether we like it or not, they are the numbers the market reacts to and the numbers legislators are meant to use when crafting new legislation.
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