Kenezen Wrote:
Jul 04, 2012 8:49 AM
Cris, you're probably right. Currency depends on underlying value. Our economy as you've rightly pointed out is recently showing the weaknesses of manufacturing. When compared to the past work ratios it show that the percentages of Government employees versus manufacturing employees from 1960 to now is frightening. In 1960 8.7 million in government 15 million in manufacturing. In 2010, 24 million jobs in government compared to 10.5 million in MFG. Banks continue to hold Derivatives and Credit Default Swaps (CDS) in all debt including Sovereign debt that busted MF Global and causes hedging with volitile sythetic hedges hurting JP Morgan.