Summary of Making Sense of the Dollar

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Making Sense of the Dollar book summary
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Rating

8 Overall

8 Applicability

9 Innovation

8 Style

Recommendation

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.

In this summary, you will learn

  • Which commonly held opinions about the dollar are dead wrong; and
  • What the truth is about the dollar’s strength and international status.
 

About the Author

Marc Chandler, chief foreign exchange strategist at Brown Brothers Harriman, is the former chief currency strategist for HSBC Bank U.S.A. He has contributed to many financial publications, and teaches in New York University’s School of Continuing and Professional Studies.

 

Summary

“Myth 1: The Trade Deficit Reflects U.S. Competitiveness”
Antiquated accounting methods distort the picture of the United States’s international competitiveness. When a U.S. company sends parts abroad for assembly and then brings back a finished product, trade accounts record the transaction...

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