Global cooperation to support the dollar
The media has been sighing with relief that the greatest depression since the 1930's doesn't seem likely. However, global inflation remains an elephant in the room threat (Goldman Sachs analyst predicts $200 oil by year end ), and it's encouraging to see the world banks working in concert to ensure a stronger dollar to keep inflation at bay:
Europe and US unite on stronger dollar (FT)
All about the dollar - what the currency strategists think
(despite the fact that today, ECB's Trichet isn't signaling lower interest rates on Europe's side in order to combat inflation, causing a dollar dip)
But we're certainly not out of the dark forest yet, none other than George Soros claims we're in a bear market rally that will tip back into despair:
The Wall Street Journal writes that Soros recently said “The markets are breathing a sigh of relief but the fallout in the real economy is only now beginning.” Soros does not even bother to say that there is any light at the end of the tunnel.
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