hmmm, and increasingly worse.
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Goodbye dollar, hello inflation
Published on Friday, October 26, 2007.
http://www.blacklistednews.com/view.asp?ID=4602
Source: Finance Trends Matter
The dollar is no longer the world's reserve currency. This is the statement you heard twice in one day if you were checking out the news on Bloomberg over the past 24 hours.
First, we heard it from economist Clifford Bennett of Sonray Capital, who said the Euro was the world's new reserve currency and that this idea was now universally recognized.
Next we heard it from investor Jim Rogers, who has been bearish on the dollar and the state of the US economy/fiscal outlook for quite some time.
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and.
Dollar Falls as Orders for U.S. Manufactured Goods Decline
Published on Friday, October 26, 2007.
http://www.blacklistednews.com/view.asp?ID=4608
Source: AP / IHT
NEW YORK: The dollar fell against a basket of six other major currencies Thursday following a report that showed orders for manufactured goods in the United States fell unexpectedly in September.
Investors sold dollars in a climate of market nervousness ahead of a Federal Reserve meeting on interest rates next week.
The dollar hit a new 33-year low against the Canadian currency. The "loonie" rose to $1.0400, or 96.15 Canadian cents per U.S. dollar, this morning after the release of Thursday's durable goods report, according to Interbank foreign-exchange rates from Dow Jones.