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Making Sense of the Dollar: Exposing Dangerous Myths about Trade and Foreign Exchange |  | Author: Marc Chandler
Publisher: Bloomberg Press
List Price: $27.95
Buy New: $17.25
as of 11/21/2009 02:43 CST details
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Seller: yippsterz
Rating:  8 reviews
Sales Rank: 5596
Media: Hardcover
Pages: 240
Number Of Items: 1
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 6.1 x 0.9
ISBN: 1576603210
Dewey Decimal Number: 332.4560973
EAN: 9781576603215
ASIN: 1576603210
Publication Date: August 19, 2009
Availability: Usually ships in 1-2 business days
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Product Description
Has the greenback really lost its preeminent place in the world? Not according to currency expert Marc Chandler, who explains why so many are--wrongly--pessimistic about both the dollar and the U.S. economy. Making Sense of the Dollar explores the many factors--trade deficits, the dollar's role in the world, globalization, capitalism, and more--that affect the dollar and the U.S. economy and lead to the inescapable conclusion that both are much stronger than many people suppose. Marc Chandler has been covering the global capital markets for twenty years as a foreign exchange strategist for Wall Street firms. He is one of the most widely respected and quoted currency experts today. "Making Sense of the Dollar is a must for anyone involved in foreign exchange markets. Chandler's research substantiates a basically positive view of the U.S. dollar, and the book is perfectly timed, given the critical juncture in global currency markets--where the outlook for the U.S. dollar is under serious scrutiny--and the magnitude of government interventions to stem the current credit crisis."
--Hari N. Hariharan, Chairman and CEO, NWI Management LP "...exposes the misconceptions about U.S. competitiveness, affirms the strength of the dollar, and applauds the resilience of the American consumer.... This lucid and well-written work is required reading for the expert as well as the lay person."
--Vera Jelinek, Ph.D., Divisional Dean, Center for Global Affairs, New York University, School of Continuing and Professional Studies
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| Customer Reviews:
Showing reviews 1-5 of 8
 A fine analysis of global markets and American strengths November 17, 2009
Midwest Book Review (Oregon, WI USA)
1 out of 1 found this review helpful
MAKING SENSE OF THE DOLLAR: EXPOSING DANGEROUS MYTHS ABOUT TRADE AND FOREIGN EXCHANGE refutes common notions about gloomy economics and maintains that Americans in many ways are better off than ever, and the dollar remains the strong world currency of choice. Common gloomy myths are dispelled one by one in a fine analysis of global markets and American strengths.
 Very Enlightening October 8, 2009
Robert LeFevers (Houston, TX)
0 out of 4 found this review helpful
Finally, someone that actually understands global economic interactions and currency valuation. It's a short, straightforward illustration of today's reality. Excellent.
Fascinating September 24, 2009
BrianEF (Potomac, MD, USA)
1 out of 6 found this review helpful
The author presents a truly fascinating perspective on the U.S. dollar and, through that, the global economy.
Bridget's Review September 11, 2009
bridget3420
1 out of 5 found this review helpful
This book shows how American's aren't actually in that bad of shape with the current recession. Chandler states that, "The credit crisis of the U.S. dollar, nor will the euro or yuan replace the dollar as the world's currency. The U.S. economy is much more durable and innovative than people suppose, even in the face of market turmoil. Policy makers, investors - and the public - need to start thinking about the dollar and trade in a different way."
Here are just a few examples of how Marc explains the following myths:
* The trade deficit reflects U.S. competitiveness.
* Current account deficits drive currencies.
* Labor market flexibility is the key to U.S. economic prowess
* Globalization has destroyed American industry.
* The dollar's privileged place in the world is lost.
I tend to be an optimist so I thought this was a great book to help me understand that maybe the country I live in, isn't as bad off as I thought. If an expert is optimistic, that gives me more hope than I already had. If you're worried about the current state of U.S. currency, I recommend this book.
A polemic for the naysayers September 8, 2009
Mark McCormick (New York, NY)
4 out of 8 found this review helpful
At a time when most pundits and talking heads have called for the imminent demise of Western capitalism and the US dollar, Chandler writes a polemic dedicated to the strengths and the brilliance of the US economy. Stuck in the middle of opinions from ill-advised bloggers and twenty four hour news cycles we get a fresh approach to thinking about globalization and the role the US plays as the world's leader of innovation, technology and human capital.
As Chandler mentions from the onset this is not a primer for trading currencies but allows the reader to develop a nuanced framework about international business and the dollar's role as the anchor for these transactions. He provides great insight into the concepts and economics that affect the dollar's role as a reserve currency and provides brilliant analysis about the over-hyped trade deficit.
He explains the antiquated accounting metrics used in the pre-World War II balance of payments system and calls for a new approach based on zeitgeist of modern of finance. When much of the mainstream debate centers on the "socialization" of the US, he provides thought-provoking details about the government's historic role as a regulator, purveyor of social safety nets and in the times of crisis, aggregate demand. With keen insight and solid data he does a superb job of debunking the ubiquitous myth that globalization destroyed the American manufacturing industry.
In my opinion, though, the importance of his work is highlighted by the rigorous thought applied to a strong dollar policy and its benefits of intrafirm trade to American multinationals. For example, he cites that intrafirm trade, led by US multinationals that produce and sell locally, generates over $4,000BN worth of sales, compared to $1,000BN in exports. In essence the weak dollar, export-orientated business model pales in comparison to the strong dollar, direct-investment strategy that has been in place since the inception of the Open Door policy. This book is a must read for policy makers, journalists, investors, students and the like.
Showing reviews 1-5 of 8
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