Monday, 09 March 2009
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Dollar Up, Foreign Capital Flooding In
Once again, we are all going to be fine. The USA is in much better shape than the rest of the world.
http://www.nytimes.com/2009/03/09/business/09dollar.html?_r=1American investors are ditching foreign ventures and bringing their dollars home, entrusting them to the supposed bedrock safety of United States government bonds. And China continues to buy staggering quantities of American debt.
These actions are lifting the value of the dollar and providing the Obama administration with a crucial infusion of financing as it directs trillions of dollars toward rescuing banks and stimulating the economy, enabling the government to pay for these efforts without lifting interest rates.
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Comments (2)
Greetings, Thank you for your excellent and informative posts. I saw Steven Chu on Charlie Rose lastnight and was so impressed with what he had to say about the power transmission grid upgrades and alternative energies. Great pick for energy secretary, a top scientist instead of a dull brained politician. Moervil
being in better shape then the rest of the world is hardly "fine".