Professor Mark J. Perry's Blog for Economics and Finance
NEW YORK, Sept 10 (Reuters) - The U.S. dollar climbed to a fresh one-year high against major currencies on Wednesday and surged to nearly 12-month highs versus the euro, as falling oil prices and a bounce in U.S. stocks overcame worries about the health of financial firms (see chart above).
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
5 Comments:
Good news, Mark --- and a good chart (as usual). Thank you.
Let us hope that --- with most of the EU (in the western half for sure) falling into recession, and Japan as it usually does tumbling into the upteenth recession since 1991 --- China, the smaller Pacific Asian countries, and India keep growing . . . enough at any rate to sustain high-levels of US exports to them.
Right now, unless US consumer spending recovers quickly, export-led growth is about the only stimulus keeping us out of recession too.
...
Michael Gordon, AKA, the buggy professor
It may be good news. It may mean that other currencies/economies are very worse off than the U.S.
there go the exports
...What bobble said...
That be deflation as the zombie US banking system is freezing up and like a giant black-hole sucking in capital around the world. Velocity of money is falling. The US government is the economy now. Just like Japan. This will be followed by hyperinflation in a couple of years as the currency collapse due to the inability of the US to service it's massive debt burden as they are already borrowing money to pay interest on the interest.
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