Dollar Continues Climb, Investors Still Wary

As the dollar continues its long-overdue comeback against world currencies many experts caution that the economy is still far from a full recovery, according to Reuters.

The price of oil has fallen significantly, and the dollar is more robust than it has been in six months, but the true foundations of the economy are still shaky.

Consumer confidence has faltered amid talk of recession, war, unemployment, etc., and spending – which comprises the vast majority of the U.S. economy – is not where it should be.

Americans have found themselves increasingly pinched by historic fuel costs – just a few months ago, oil had never been above $100 per barrel – and their home values, the bastion of American wealth, have never been worth less than today.

This recent blip on the radar is more symptomatic of a global slowdown than of an American resurgence. As the Euro zone, China, Japan and others have battled with the fallout of America’s economic quagmire, the only economy which still has a hold on investor confidence is – ironically – the United States.

It isn’t that our economy is recovering, or that it is on the road to better health. Rather, other economies around the world are being stricken by the same calamities of poor leadership and bad judgment which had previously undermined the U.S.

The economy in the United States is still being bought out by foreign investors, and its industrial champions are still franticly trying to stop the bleeding. Unemployment is still well beyond the “recession” threshold, and those with jobs still fight a daily battle against the costs of food and fuel.

In decades past, the United States was a big fish in a small pond. Now, our “fish” has stayed the same, and instead it is the pond that is shrinking. Such a situation is hardly one to rejoice about, so while we may be pointed in the right direction, we’re still very much lost in the woods.

Source Reuters:

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