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The Euro Could Be The New Dollar
The euro could become the new dollar, but not in a way the architects of European Monetary Union might have imagined. That's the upshot of this week's dollar rally as the S&P 500 index of leading U.S. shares has risen to its highest level since June 6, 2008, reinforcing a seismic shift in the way global financial markets behave. In recent years the relationship between shares and the greenback has typically been an inverse one: when investors wanted to pile into relatively risky equities at the expense of relatively safer U.S. government bonds, they were also inclined to sell the super-safe dollar--the world's main ... (full story)
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You can remain irrational longer than you can remain solvent.
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