Making Sense of the Dollar
Exposing Dangerous Myths about Trade and Foreign Exchange
Bloomberg
1. Edition August 2009
240 Pages, Hardcover
Wiley & Sons Ltd
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.
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
Readers may contact the author at This email address is being protected from spambots. You need JavaScript enabled to view it..
