Will The Fed Ever Get Around To Supporting The Dollar Again?

Here’s the second part of my appearance on CNBC’s Kudlow Report Tuesday night.

Some highlights

  • Mike Darda, a well-known perma-bull, has pulled back from the herd. He’s now predicting just 5% growth next year, less than the most bullish economists.
  • Michael Mussa says that if we get 5% growth — and he expects 6% — we’ll see unemployment fall from double digits to 9% by the end of next year.
  • My take is that the weak dollar is driving a boom in the “dumb” economy — oil, gold, and other things that have connections with the earth. A strong dollar will support the “smart” economy.
  • Steve Forbes explains how a weak dollar is a form of protectionism.

 

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