Making Sense of the Dollar: Exposing Dangerous Myths about Trade and Foreign Exchange |  | Author: Marc Chandler
Publisher: Bloomberg Press
Category: Book
List Price: $27.95
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Rating:  18 reviews
Sales Rank: 95787
Media: Hardcover
Pages: 240
Number Of Items: 1
Shipping Weight (lbs): 1.2
Dimensions (in): 9 x 6.3 x 0.8
ISBN: 1576603210
Dewey Decimal Number: 332.4560973
EAN: 9781576603215
ASIN: 1576603210
Publication Date: August 19, 2009
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| • | ISBN13: 9781576603215 | | • | Condition: NEW | | • | Notes: Brand New from Publisher. No Remainder Mark. |
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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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Showing reviews 1-5 of 18
 Shedding Light August 10, 2009
V Drucker
32 out of 38 found this review helpful
Foreign exchange is a treacherous subject to navigate, difficult to predict and analyze, and most often left to expert traders and strategists. Yet that is no justificaiton for ducking out, since it is such a critical lynchpin of the entire system of global economics and internatinal relations.
Marc Chandler's book takes the bull by the horns. The author addresses his topic in a compelling prose style, which communicats effectively with non-economist readers, while providing ample fodder for the most informed professionals. Chandler's lucid voice steers the reader gently through the maze of trade accounting, globalization, labor markets, monetary policy and speculation, interspersing nuanced observations and discussions with simple economic explanations of how goods and money flows traverse the world.
In order to frame its message, the book uses a provocative format: it challenges a handful of forex myths, peeling back the layers of concepts frequently taken for granted as the common wisdom. For example, at the heart of the arguments, one particular chapter is bound to command attention. Is the demise of the dollar, and its threatened standing as the world's reserve currency an inevitability, as so many dollar bears have predicted in recent years? Chandler's response is a resounding no, citing, "the unique characteristics of America, such as its political stability, the depth and breath of its US Treasury markets, and its status as a superpower." He goes on to describe the dollar's other key attributes, such as its role as an invoicing currency for trade, and as a denominator of commodities.
Chandler takes his own role as a educator seriously. He rises above every temptation to retreat into jargon, and consequently provides a pleasurable read, with stimulating arguments and refreshing clarity. Over the past twelve months, many investors and savers, rich and poor alike, have felt buffeted by economic currents and financial shenanigans they barely grasped. They have lost faith in both banking institutions and policy makers. A book like this pefforms a timely function. It sheds some light at a juncture when investors most need a helping hand, and teaches intellectual responsibility for understanding how the world works.
A guide to how American Capitalism really works! November 27, 2009
James A. Hofmann (Stillwater, NJ)
3 out of 3 found this review helpful
This has to be one of the most fascinating books I have ever read. It does a good job of taking the advanced global economy and breaking it down into simple points. Chandler then goes on to point out how the accounting systems and metrics we use to value and monitor things like savings and trade are way off because the system changed since the metrics were developed before WW2.
Cantankerous currency exposé January 5, 2010
Rolf Dobelli (Switzerland)
1 out of 1 found this review helpful
Marc Chandler is one of the most widely respected, prolific pundits on currency markets and foreign exchange. In this book for lay readers, he summarizes "dangerous myths" about currency markets and foreign exchange. The myths are dangerous because they can lead to the kinds of mistakes in public opinion that generate disastrous political and economic policymaking. getAbstract recommends this accessible book and finds that Chandler does an excellent job of summarizing and countering some of the most wrongheaded, naïve or confusing blunders, blinders and bewilderments that vex discourse about the dollar, the trade deficit and the economic strengths of nations.
A unique book with intricate details January 22, 2010
Rab S. Jafri (NY)
1 out of 1 found this review helpful
In "Making Sense of the Dollar", Marc debunks text book economic theories that are a century old and gives a more practical understanding of the misconceptions that surround the dollar. Whenever the U.S dollar drops in value, the media and analysts pounce on it with similar distortions. On the contrary, Marc always provides a unique counter perspective; an approach that can also be found in his book.
Example: Marc deciphers the trade deficit argument and points out the reason why the United States has been running deficits, why the argument that "exports are good, imports are bad" does not apply to the U.S, and how U.S companies contribute to the trade balance.
The book is full of interesting facts and figures. Marc provides evidence for his arguments and discusses various issues such as manufacturing, demographics and much more. This book is a must read for policy makers, students and investors as it will help explain the dynamics of the U.S economy through an optimistic view with hard evidence.
This is worth your time! February 3, 2010
Paul Nunes (Kansas City)
1 out of 2 found this review helpful
The financial media and internet space has a multitude of opinions that are presented with superficial analysis. In particluar the "end of all things" represented by the collapse of the U.S. Dollar and maybe all paper currency markets is a fear perpetuated over and over in the internet blogosphere. This book will provide you well thought out examples of how our currency markets are related to real world economic issues by an experienced currency analyst and trader. This is a must read in a world where capital is truly mobile. Great job Marc!
Showing reviews 1-5 of 18
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