U.S. Dollar Hits 13-Month High
The U.S. dollar reached a 13-month high today versus major currencies (see graph above), the highest level since September 5, 2007.CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Friday, October 03, 2008
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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8 Comments:
US stock market approaches 13month low.
It's at a nearly 2.5 year low.
Yea - the dollar is at 13 month high and now the econmoy is doing great let's all celebrate, congratulations George W. Bush great job !!!!!
What does this have to do with any sarcastic remark about the stock market or GWB?
This is an economics blog. A rising dollar (and rising real interest rates) are very interesting given what is going on. Not what folks would predict. Maybe not quite "puzzles" but very interesting indeed.
Great, I'll stare at this wonderful Everest like chart while waiting in the unemployment line. Oh, don't bother, I've already defaulted on my student loan and would welcome the folks to foreclose my PhD////
I'd imagine it's a "flight to quality" - investors fear the Dollar's fate in a global recession less than they do other currencies.
> Yea - the dollar is at 13 month high and now the econmoy is doing great let's all celebrate, congratulations George W. Bush great job !!!!!
Yeah, Homer, it's got nothing at all to do with the fact that, despite 14 different attempts by the Bush Admin and the GOP, in the last 8 years, to reign in and put tighter controls on the FMs, the Dem leadership has in all cases tied things up in committee and ignored all attempts to stop this problem from occurring.
Doh!!!
The GOP does share responsibility, since, given the power to do so, they were such complete chickenshits that they STILL refused to override the constant Dem threats to hold their breath and stamp their feet repeatedly if the Dems did not get their way....
I make that about 25% of the problem, give or take 10%.
But you go on drinking the Democrat KoolAid, and blaming this mess on the GOP.
> Oh, don't bother, I've already defaulted on my student loan and would welcome the folks to foreclose my PhD
If you are standing on an unemployment line with a PhD, then perhaps you should have considered getting it in something other than Basket Weaving...
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