EUR/USD 12-7-08
EUR/USD 12/98 to current (12-7-08)
Yes, agreed that dollar recently gained on Euro. It is the best of worst currently. We have been in the pain before everyone else. Others are now showing the symptoms.
Still, we are the largest GDP and we are the epicenter of this credit bubble. Our over-leveraging at the household level and the massive printing of Greenback will translate into its weakness. . Next stop, higher Oil, higher commodities and higher cost of goods to eat into the margins of already suffering businesses.
Will that slow down the pace of recovery from this recession?
Yes, it will.
Eventually, we will become more productive, more efficient with abundance of savings.
