The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency.
With no relief in sight for the dollar on any of those fronts, the downward pressure on the dollar is widely expected to continue.
The dollar fell nearly 1% against a broad basket of currencies this week, following a drop of similar size last week. The ICE U.S. Dollar Index closed at its lowest level since August 2008, before the financial crisis intensified.
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Filed under: * Culture-Watch • Globalization • * Economics, Politics • Economy • Credit Markets • Currency Markets • Euro • European Central Bank • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • Budget • Federal Reserve • The National Deficit • The United States Currency (Dollar etc) • * International News & Commentary • Asia • Europe • South America
Posted April 25, 2011 at 5:15 am
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For an explanation of Quantitative easing, there is a video here. The fed prints a lot of money to buy federal bonds, not directly, mind you, but through Goldman Sachs, so that the corrupt corporation can get its share of the billions.
Non serviri, sed servire.
April 25, 3:18 pm | [comment link]