Jesse's Café Américain
So far the dollar rally looks like a technical bounce similar to ones we have had in the past when the dollar sets a lower trendline, bounces off it, and then falls back and tests it after a three or four week rally.
I don't believe they can manipulate past the horrible fundamentals. "Life shrinks or expands in proportion to one's courage." - Anaïs Nin
The next phase is a collapse of corporate profits as the recession hits, and a wave of defaults on corporate buyout debt.
Plus a new wave of mortgage defaults this time by people with "prime" mortgages, where the incidence of defaults is already way up in the US. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
