Making Sense of the Dollar: Exposing Dangerous Myths about Trade and Foreign Exchange [NOOK Book]

Overview

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 ...
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Making Sense of the Dollar: Exposing Dangerous Myths about Trade and Foreign Exchange

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Overview

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.
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Product Details

  • ISBN-13: 9780470885383
  • Publisher: Wiley
  • Publication date: 5/18/2010
  • Series: Bloomberg, #18
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 240
  • File size: 2 MB

Meet the Author

Marc Chandler joined Brown Brothers Harriman in October 2005 as the global head of currency strategy. Previously he was the chief currency strategist for HSBC Bank USA and Mellon Bank.
Marc is a prolific writer and speaker. In addition to being frequently called upon by newspapers and news wires to provide insight into the developments of the day, Chandler's essays have been published in the Financial Times, Barron's, Euromoney, Corporate Finance, and Foreign Affairs. He is also the contributing economic editor for Active Trader Magazine and to TheStreet.com. Marc appears often on business television and is a regular guest on CNBC. He frequently presents to business groups and investors.
His current research projects include global imbalances, Islamic finance, and the relationship between savings, investment and growth.
Marc has been analyzing, writing and talking about the foreign exchange market for more than 20 years. He holds a Master's degree in American history (1982) from Northern Illinois University and a Master's in International Political Economy from the University of Pittsburgh (1984). He has taught classes on International Political Economy at New York University since the early 1990s, where Marc is an associate professor.
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Table of Contents

Acknowledgments.

Introduction.

1 Myth 1: The Trade Deficit Reflects U.S. Competitiveness.

2 Myth 2: The Current Account Deficit Drives the Dollar.

3 Myth 3: You Can't Have Too Much Money.

4 Myth 4: Labor Market Flexibility Is the Key to U.S. Economic Prowess.

5 Myth 5: There Is One Type of Capitalism.

6 Myth 6: The Dollar's Privileged Place in the World Is Lost.

7 Myth 7: Globalization Destroyed American Industry.

8 Myth 8: U.S. Capitalist Development Prevents Socialism.

9 Myth 9: The Weak U.S. Dollar Boosts Exports and Drives Stock Markets.

10 Myth 10: The Foreign Exchange Market Is Strange and Speculative.

11 Summary and Some Thoughts on the Way Forward.

Bibliography.

Index.

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Customer Reviews

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Sort by: Showing all of 4 Customer Reviews
  • Posted January 5, 2010

    more from this reviewer

    Cantankerous currency exposé

    Marc Chandler is one of the most widely respected, prolific pundits on currency markets and foreign exchange. In this book for lay readers, he summarizes "dangerous myths" about currency markets and foreign exchange. The myths are dangerous because they can lead to the kinds of mistakes in public opinion that generate disastrous political and economic policymaking. getAbstract recommends this accessible book and finds that Chandler does an excellent job of summarizing and countering some of the most wrongheaded, naïve or confusing blunders, blinders and bewilderments that vex discourse about the dollar, the trade deficit and the economic strengths of nations.

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  • Posted September 11, 2009

    more from this reviewer

    I Also Recommend:

    Bridget's review

    This book shows how American's aren't actually in that bad of shape with the current recession. Chandler states that, "The credit crisis of the U.S. dollar, nor will the euro or yuan replace the dollar as the world's currency. The U.S. economy is much more durable and innovative than people suppose, even in the face of market turmoil. Policy makers, investors - and the public - need to start thinking about the dollar and trade in a different way."

    Here are just a few examples of how Marc explains the following myths:

    * The trade deficit reflects U.S. competitiveness.
    * Current account deficits drive currencies.
    * Labor market flexibility is the key to U.S. economic prowess
    * Globalization has destroyed American industry.
    * The dollar's privileged place in the world is lost.

    I tend to be an optimist so I thought this was a great book to help me understand that maybe the country I live in, isn't as bad off as I thought. If an expert is optimistic, that gives me more hope than I already had. If you're worried about the current state of U.S. currency, I recommend this book.

    Was this review helpful? Yes  No   Report this review
  • Posted August 19, 2009

    The Better Investment You Should Consider

    Regardless of your background, you have been drawn into the dark world of foreign exchange or FOREX.
    Whether you know it or not, THE DOLLAR will become the number ONE issue to confront an American public long removed from financial realities. Swirling around one bad economic headline after another, is the constant chatter of the end of the American era, the demise of the dollar. With the current financial crisis swallowing American pride, we are groping for direction. With Washington rushing Americans headlong into a strange new world, deepening doubts about our ability to survive. This book sheds a bright light in an easily understood manner of the realities for the dollar.

    Chandler de-mystifies foreign exchange providing the sound basis for an easy understanding of whats, whys and hows concerning FOREX and the US dollar. He does so through a convincing set of arguments that also lay out a potential for significant rewards. He presents real alternatives to all the negative headlines and doom sayers that indicate that America is dying as a world power
    I strongly recommend that our new President along with Oprah read, promote and understand this book. Withstanding the current economic crisis while bearing up to the realities of a President on OJT, the dollar is set to continue as the main currency of the world.
    Chandler knows his stuff. So should you!

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  • Anonymous

    Posted November 9, 2011

    No text was provided for this review.

Sort by: Showing all of 4 Customer Reviews

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