The Detroit automakers deserve to go broke, says Bill Bonner. They were well positioned in the biggest market for autos in the world, but still managed to squander all their money. And now they want the taxpayers to rescue them.
The US dollar showed further weakness today, as the New York Manufacturing index plunged to minus 8.7 in June — a bigger decrease than forecast.
The greenback was already under pressure as soaring eurozone inflation boosted expectations of an imminent rate hike by the European Central Bank.
As market uncertainty feeds into exchange rate volatility, currency expert Sean Hyman suggests two safe havens in The Offshore A-Letter…