Below is a fun clip from last week's Saturday Night Live about how "the stimulus is working".
http://widgets.nbc.com/o/4727a250e66f9723/4b02d547d29d213d/4b006de9eb37c5f8/e750036/-cpid/bd09c0e4919ca457
Two other bits of news:
1) The Globe And Mail reports that China sets plan to let currency move higher.
2) Gold is still going up:
Anybody can give me a clue? Why gold go up in the last 2 weeks didn't push euro and other currency up also?
Why euro is still at 1.488 now when gold already hit $1140?
Why the USDX hold up so well?
Because the index is a comparison of a basket of currencies(not including gold). So gold can go up as the US dollar goes up on the index at the same time. The index is kind of pointless. The index is just saying which currency is doing best compared to other currencies. Gold is going up in all currencies.
But Numonic, isn't you all advise that dollar is doomed?
Gold go up confirm this thinking, but why other currency not joining this party?
If this persist, all currency will be down against commodities. All currency is doomed together with the dollar.
"...All currency is doomed together with the dollar..."
Probably, if other just sitting on the Titanic deck without any wish for rescue.
I am not sure that other nation just want to save "the great nation of US".
When time coming (and I believe that Eric has right in that) - you can see massive escape from US$.
The reason is simple - nobody wont to go down with Titanic. Some will succeed, other not - depending how fast they are chained on Titanic.