Econbrowser: Oil and the Dollar

"The dollar falls and oil prices go up. So the two must be related, right?..."

Has the USD hit rock bottom?

The USD bottom arrived in the mail today in the form of the cover of the Economist. Like the pundits exclaiming gold was headed to 2000 per ounce in May 06 (it may well be, but in the intermediate term at least, that signaled the top of the move) I think this could be a strong sign that we are oversold at these levels. When super-models, rappers, magazines and dictators are all at once signaling the imminent demise of the USD, it makes you start to wonder....I'm thinking mean reversion at the very least.

Freddie, Fannie Shares Will Continue to Slide, Jim Rogers Says

"Nov. 20 (Bloomberg) -- Freddie Mac, which today dropped the most ever after posting a record loss, and rival mortgage lender Fannie Mae will continue to tumble because of bad home loans, investor Jim Rogers said.

``I'm still short those companies, they both have a long way to go as far as I'm concerned,'' Rogers said in an interview. ``Neither one has a clue what's on their balance sheets.''..."(Bloomberg)

Is Jay-Z signaling a recession?

The perception of the U.S. dollar is as important as its actual economic value. When Jay-Z uses Euros as a marker of wealth in his latest video, you can be sure the populace gets the message.