More Dismal Science

I saw a Washington Post article today about the effects, or rather lack of effects from the 25% rise in the value of the Dollar since August against the Euro and the British Pound.

In other years, a strengthening dollar would mean increased exports for Europe and an increased flow of American tourists. Not this year.

The article quotes He Fan, an international finance researcher at the Chinese Institute of Social Sciences: “The rise of the exchange rate is temporary, like a momentary recovery of consciousness just before death.”