Tuesday, October 21, 2008

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.


At 10/22/2008 12:26 AM, Anonymous Anonymous said...

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.

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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