Thursday, March 13, 2008

About USA Economy

Robert Rubin
In 1971, when the USD was weak and was getting cheaper with every day, the financial minister John Connolly paid attention to the whole world with the words “Dollar is our currency and your problem". Thirty years later when the US Dollar was stronger and didn’t stopped to increase, the financial minister Robert Rubin told “Strong Dollar is a good for America”.
Today the US Dollar is again in situation from 1971, and analyzers expected the American positions and economists to pay attention to the words of Connolly, but in spite of that they repeat the phrase of Rubin. The problem is that as much as you claim that you care about American Dollar, when it is decreasing every day, means that you have an interest the situation to be in that way. So the American economists, repeat without words the phrase of Connolly.
The president of European Central Bank, Jean-Claude Trichet, finally began to comment, how dangerous can be the hard and uncontrolled currency movements. The banker is pressed from the production sector in Europe, to make an attempt for stopping of the hard running EUR. For the last month, the Dollar lost nearly 8% toward the EUR, and for the last year, the losing is more than 20%.

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