DailyMarkets.com - Why It’s Foolish To Weaken The Dollar To Create Jobs

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• Why It’s Foolish To Weaken The Dollar To Create Jobs
• Friday Would Show An Unexpected Mix: A Rally For Both Crude And Oil
• Corrections And Amplifications: On Andrew Mellon, Sebastian Mallaby, And General Motors
• NFL Income Inequality: It Keeps Getting Worse

Why It’s Foolish To Weaken The Dollar To Create Jobs Posted: 01 Oct 2010 05:31 PM PDT I keep hearing the only way we're going to get jobs back any time soon is with a weak dollar. Baloney. Here's the theory. As the dollar falls relative to foreign currencies, everything we export becomes less expensive to foreign consumers. So they buy more of our stuff, creating more jobs in the U.S. At the same time, everything they make costs us more. So we buy less from them and more from each other. Again, more jobs here at home. Washington is actively pursuing a weak dollar as a jobs … [visit site to read more]

Friday Would Show An Unexpected Mix: A Rally For Both Crude And Oil Posted: 01 Oct 2010 05:08 PM PDT North American Commodity Update Commodities – Energy A Rise in Chinese Manufacturing and US Consumption Fuels Oil's Rally Crude Oil (LS Nymex) – $81.58 // $1.61 // 2.01% US oil wouldn't let up off the accelerator into the close of the week. The benchmark WTI continuous futures contract climbed for a third consecutive session at a fresh seven week high. Just off early August's $83 swing high, energy traders will have something to shoot for should momentum carry over to the open of a new … [visit site to read more]

Corrections And Amplifications: On Andrew Mellon, Sebastian Mallaby, And General Motors Posted: 01 Oct 2010 02:15 PM PDT 1. A group calling itself "Stand Up For America" says I took Herbert Hoover's treasury secretary Andrew Mellon's words out of context in my post "Republican Economics as Social Darwinism" (September 26); and that, in any event, today's Republicans who call for small government at a time of sky-high unemployment aren't anything like Hoover or Mellon; and besides, many Democrats are calling for small government, too. "Stand Up For America," whoever they are, seem blissfully … [visit site to read more]

NFL Income Inequality: It Keeps Getting Worse Posted: 01 Oct 2010 11:59 AM PDT Click once, and then again to enlarge. According to a new report from the Census Bureau, the top 20% of American households earned 50.3% of the total income in 2009, just slightly higher than the 50% share of income for the top fifth of households in 2008. Looking at a longer period of time going back to 1967 when the top quintile earned 43.6% of all income, the share of income going to the top fifth increased throughout the 1970 and 1980s, until stabilizing in the 49-50 percent range in the … [visit site to read more]

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