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Making Sense of the Dollar

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Has the greenback really lost its preeminent place in the world? Not according to currency expert Marc Chandler, who explains why ... Lire la suite
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Description

Has the greenback really lost its preeminent place in the world? Not according to currency expert Marc Chandler, who explains why so many are-wrongly-pessimistic about both the dollar and the U.S. economy.  

Making Sense of the Dollar explores the many factors-trade deficits, the dollar's role in the world, globalization, capitalism, and more-that affect the dollar and the U.S. economy and lead to the inescapable conclusion that both are much stronger than many people suppose.  

Marc Chandler has been covering the global capital markets for twenty years as a foreign exchange strategist for several Wall Street firms. He is one of the most widely respected and quoted currency experts today.

MARC CHANDLER has been involved in global capital markets for twenty years. He is Chief Foreign Exchange Strategist at Brown Brothers Harriman and served as Chief Currency Strategist for HSBC Bank USA. Chandler is a prolific writer, contributing to such media as TheStreet.com, Currency Trader, Barron's, and the Financial Times. He maintains an active speaking schedule and also teaches at New York University in the School of Continuing and Professional Studies.

Readers may contact the author at marcmakingsense@gmail.com.

Auteur

MARC CHANDLER has been involved in global capital markets for twenty years. He is Chief Foreign Exchange Strategist at Brown Brothers Harriman and served as Chief Currency Strategist for HSBC Bank USA. Chandler is a prolific writer, contributing to such media as TheStreet.com, Currency Trader, Barron's, and the Financial Times. He maintains an active speaking schedule and also teaches at New York University in the School of Continuing and Professional Studies.

Readers may contact the author at marcmakingsense@gmail.com.

Texte du rabat

IS THE DOLLAR LOSING ITS LUSTER AS A WORLD CURRENCY?

Has the credit crisis forever tainted the U.S. dollar? Will the euro or the yuan replace the U.S. dollar as the world's currency? Marc Chandler argues convincingly that many people are wrongly pessimistic about both the dollar and the U.S. economy. The United States remains a vibrant and innovative country despite the severe credit crisis.

In Making Sense of the Dollar, Chandler acknowledges the existence of trade deficits while advising against sacrificing growth and development. Investors and policy makers need to think about money and trade in a different way. He casts a critical eye at ten myths that contribute to our misperceptions:

  • Trade deficits reflect a lack of U.S. competitiveness
  • There is only one type of capitalism
  • Globalization destroyed American industry
  • The era of the dollar as the global currency is ending
  • A weak dollar boosts exports and drives stock markets

These assumptions and others are debunked by Chandler. His inescapable conclusion is that both the dollar and the U.S. economy are much stronger than many people suppose, even in the face of market turmoil and economic displacement. The new rules that emerge from the credit crisis will undoubtedly create new incentives and disincentives, which, in turn, could influence the contours of U.S. strategy for economic expansion.

Contenu

Acknowledgments xi

Introduction xiii

1 Myth 1: The Trade Deficit Reflects U.S. Competitiveness 1

2 Myth 2: The Current Account Deficit Drives the Dollar 21

3 Myth 3: You Can't Have Too Much Money 39

4 Myth 4: Labor Market Flexibility is the Key to U.S. Economic Prowess 57

5 Myth 5: There Is One Type of Capitalism73

6 Myth 6: The Dollar's Privileged Place in the World is Lost 91

7 Myth 7: Globalization Destroyed American Industry 111

8 Myth 8: U.S. Capitalist Development Prevents Socialism 133

9 Myth 9: The Weak U.S. Dollar Boosts Exports and Drives Stock Markets 155

10 Myth 10: The Foreign Exchange Market is Strange and Speculative 173

11 Summary and Some Thoughts on the Way Forward 191

Bibliography 203

Index 206

Informations sur le produit

Titre: Making Sense of the Dollar
Sous-titre: Exposing Dangerous Myths about Trade and Foreign Exchange
Auteur:
Code EAN: 9780470883372
ISBN: 978-0-470-88337-2
Protection contre la copie numérique: Adobe DRM
Format: eBook (pdf)
Editeur: Bloomberg Press
Genre: Économie publique
nombre de pages: 240
Parution: 18.05.2010
Année: 2010
Sous-titre: Englisch
Taille de fichier: 1.3 MB