To Buy Euros Before Wall Street

To buy euros before Wall Street

Buenos Aires, March 2009 Argentina12 lasted little honeymoon with Obama. The ordinary citizen but still supports the Academy anymore. Neither Wall Street, which has little patience and see What the government loses credibility with each new attempt to rescue mega-plan. The Wall Street Journal just published a popularity poll of the new U.S. president, and it emerges that 60% of the population approves. "But most of the 49 economists polled said they are not satisfied with the economic policies of this government." We have given the U.S. president a note of 59 out of 100. Treasury Secretary Geithner received a worse note, 51. Who got top marks was the president of the Federal Reserve, Ben Bernanke, with 71. Economists do not agree with the amount of economic stimulus plan worth U.S. $ 787,000 million. Economist Paul Krugman says that this amount is insufficient to tackle the scale of the recession, you need a plan for U.S. $ 3 billion (difficult for the Congress would have approved, however, but still earned him a rebuke from the chief Staff, Rahm Emanuel).

43% of economists polled by the WSJ says that U.S. $ 787,000 million is necessary to add another U.S. $ 500,000 million. And others are directly skeptical of the need for a stimulus package. But the amounts are not what economists criticize, but delays in activating certain parts of the plan to rescue banks and revive the economy. "They promised much and accomplished little," said Stephen Stanley of RBS Greenwich Capital. "Secretary Geithner planned a great speech and ended with just a vague design. Uncertainty hangs over our heads." The market did not like Geithner's speech on 10 February, and the S & P500 is usually down by 4.5% that day. Since then loses almost 20%, a clear sign of disapproval and discomfort with economic measures. WST was a sharp rise on Tuesday that failed since late November, after which the contents of a leaked internal memo from Citigroup, Bernanke asked that more regulation for the financial system, and that rumors of the reimplementation of the norm 'uptick'. The market does not rise when economic announcements by the government.

There was great exect with this economic team, and before taking up three quarters of respondents indicated that it was better than the outgoing Bush team. But today the Secretary of the Treasury is seen worse than its predecessor, Paulson, who received a note from 57 in January. The criticism grew, and seen that the first few months are the largest population in love with your new president will not be long until the views of economists from reaching the public at large to the depth of the crisis and little effect the measures. Obama has blown this period and the time to come will be even more complicated. In Europe there is no acceptance of the proposed recovery measures, the markets are low and no measures seem to have no funds to achieve. But EU countries presidents are in office since before Obama. And when they start to bomb less timidly from the press and analysts with unprecedented budget deficit for this year U.S., $ 1.75 billion (four times the GDP of Argentina and the Spanish equivalent of the GDP), which represents the 12.3% of GDP, the highest deficit since World War II, the dollar will be the last of the shelters.

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Digital Freedom notes: "Obama's first budget is already receiving the first social criticism. The citizens appealed to the spirit of rebellion against England in 1773 in traditional tea parties and several States illegally branded as wasteful government spending and rising of taxes. This year, U.S. taxpayers have taken advantage of one of the quintessential liberal parties to show their clear rejection of the economic policy of the new U.S. president, Barack Obama. "No wonder, since it has tripled the deficit that left his predecessor George W. Bush also approved a plan to raise taxes by a trillion dollars. Obama's budget will cost more than 1,000 billion a day for ten years, an expense to be paid sooner or later, the citizens. "Sheryl King, senior economist at Merrill Lynch, told Reuters:" Attempts to repair the banking system and the mechanisms of loans made by the new administration so far suggest that, at the latest in 2010, the U.S. economy will enter a second phase that will be very long recession. "injections to financial institutions should not be operating, accumulate, automakers need more funds, the U.S. budget deficit will grow and will soon begin to hear more about the worthlessness of the dollar, even if global investors continue to buy Treasuries today or keeping their dollars under the mattress.

When the Obama honeymoon is over, and is finally shown that this president has over Chance Gardener that Franklin Delano Roosevelt, will be on the fragility of the dollar against a future monetary emission control. It's time to bet on the euro, before Wall Street suggest we do. Forex does not operate, we can buy the ETF CurrencyShares Euro Trust (NYSE: FXE) which follows the evolution of the euro.