King Dollar: The Greenback Makes A Comeback
The U.S. dollar index (vs. major currencies: Euro Area, Canada, Japan, United Kingdom, Switzerland, Australia, and Sweden ) hit a 17-month high today.CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Tuesday, October 21, 2008
The U.S. dollar index (vs. major currencies: Euro Area, Canada, Japan, United Kingdom, Switzerland, Australia, and Sweden ) hit a 17-month high today.About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
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.
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Wal-Mart Stores Inc's U.S. customers, increasingly worried about their own financial security, are waiting until they get their paychecks to buy even the most basic necessities, the retailer's U.S. division head said on Tuesday.
Personal financial security, a recent poll revealed, was the No 1 concern for 80 percent of Wal-Mart shoppers, up from 65 percent a few months ago, said Eduardo Castro-Wright, president and chief executive of the Wal-Mart's U.S. operations.
And, in a "disturbing" trend, Castro-Wright said Wal-Mart for the first time is seeing a paycheck-related spike in sales of baby formula, suggesting consumers are rushing to buy such necessities as soon as they have the cash.
http://www.iii.co.uk/news/?type=afxnews&articleid=6963623&action=article
Velocity is falling off a cliff, stocks falling, commodities falling, retail sales falling, Unemployment rising, a bunch of hedge funds blowing up scrambling for cash to meet margin calls and redemptions, maoney parked in banks being held against futcher losses. Great news about old Bucky hope he get to a 100.
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