Yeah that article is a bit harsh, but the market is fickle....

Yeah that article is a bit harsh, but the market is fickle. Should some major disruption come aboard and scare investors I am sure they will unwind the USD carry trade quick smart, and let's face it, that is the reason for the explosion in assets globally over the last 8 months. I just read this
http://www.tradingroom.com.au/apps/view_article.ac?articleId=872700
this morning.

"There was also disappointing news on housing. The Mortgage Bankers Association said more than 14 per cent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of September."

I expect when the wave of Alt-A and Option ARM mortgages come to reset early next year we will have our GFC2.0. I am not so sure the USD is toast just yet. ;)

-Cluster.