It really concerns me when Obama says the “dollar is extraordinarily strong right now” and that the economy is moving in the right direction. Regardless of whether either of those are true or not is not the problem. I don’t like when people in power try to put thoughts in our heads when it’s very possible, even likely, that the opposite of what they are saying is actually happening. It speaks of panic to me. If and when the economy starts to move in the right direction we’ll know. We don’t need the President to reassure us prematurely.

And when he says the US dollar is strong right now, which chart is he looking at. Because on any time frame the dollar is sick. Here is a chart of the dollar going back to 1990 and it looks to me that we’ve just experienced a dead cat bounce and we’re likely to see new lows before we get anywhere back to previous highs.