Monday, December 03, 2007
Here is the latest cover of The Economist magazine. Above it you will see a monthly chart of the US dollar index covering the past 15 years. I last commented on the dollar here.
In the issue before this cover appeared The Economist was beating up on the dollar, urging the OPEC countries to revalue their currencies and diversify away from dollar assets. I think we can classify The Economist as the biggest dollar bear among the media, even more bearish than the New York Times.
This media parlay is worth betting. The US dollar is going much higher from here.