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

by Marc Chandler

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.

Product Details

ISBN-13:	9781576603215
Publisher:	Wiley
Publication date:	08/19/2009
Series:	Bloomberg , #18
Pages:	240
Product dimensions:	6.20(w) x 9.10(h) x 0.70(d)

About the Author

MARC CHANDLER has been involved in global capital markets for twenty years. He is Chief Foreign Exchange Strategist at Brown Brothers Harriman and served as Chief Currency Strategist for HSBC Bank USA. Chandler is a prolific writer, contributing to such media as TheStreet.com, Currency Trader, Barron's, and the Financial Times. He maintains an active speaking schedule and also teaches at New York University in the School of Continuing and Professional Studies.

Readers may contact the author at [e-mail].

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Table of Contents

Acknowledgments xi

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