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Nordstrom Inc. Message Board

  • biddermon_ca biddermon_ca Jan 10, 2013 4:39 PM Flag

    Euro Draghi has it right

    If you notice the European Central Bank only talks about lower rates, but doesn't raise them, while Bernanke keeps trashing the dollar to keep the S&P up. With 47million people and one out of four children on food stamps in the US...I would say is that his policies are only helping the folks with capital to invest... He is a banker after all.

    The dollar dropped Thursday, pushing the euro up by the most since September, after comments from European Central Bank President Mario Draghi lowered expectations that an interest-rate cut will be coming soon.

    “He sounded rather upbeat on the economic outlook,” said David Song, an analyst at DailyFX. “Market participants took it as a signal that the ECB would hold off on any additional rate cuts for the time being.”

    The ICE dollar index /quotes/zigman/1652083 DXY -1.01% , which measures the greenback against a basket of six major currencies, fell to 79.678 from 80.514 late Wednesday.

    Sentiment: Hold

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    • Interestingly, this hawkish ECB decision comes after three weeks of consistently poor economic data emanating from Europe, highlighted last week by the fact that the unemployment rate across the EU reached a new high of 11.8 percent. More troubling, Spanish unemployment sits at an astonishingly high 26.6 percent, Greek unemployment at 26 percent, 16.3 percent in Portugal, and 14.6 percent in Ireland. Interesting that you would focus on the management of the Euro - especially as Europe has so many problems and having a high currency exchange rate will not help them sell anything to countries such as the USA. If you want to study a plan that may have merit check out what the Japanese are doing by slowly introducing inflation into their economy.

      Sentiment: Buy

      • 2 Replies to blair4349
      • I have not been impressed with any of the Euro attempts to fix their problems. It is all kicking the can down the road. They have too many cooks in the kitchen and the economies are really sick, with too much socialism. I would rather just USA stocks and invest here and just collect my important dividends on some of my stocks.

        Sentiment: Buy

      • **If you want to study a plan that may have merit check out what the Japanese are doing by slowly introducing inflation into their economy**

        They better do something after a lost decade. What I am saying from a monitary policy perspective the Europeans have concluded that a short term fix isn't worth trashing their currency and creating out of control inflasion down the road. What you say about Euro economy is all true, yet we are heading toward the same fate.

        Sentiment: Hold

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