What are these folks going to say when it really goes south?
That's when they will play the blame (Bush, USA, Karl Rove, JimRob, capitalism, bankers, Wall Street, you, me, white people, rich people, Republicans, Conservatives, Southerners, racists, free traders, globalists, CEOs, Rush, Sean, etc) game.
The Euro is pumped full of socialist hot air right now...be patient, and the dollar will prevail in the long term.
That will be a "dive" too, because people want a crisis no matter what the numbers are.
You're right that it's a bubble and "we ain't seen nothin' yet", especially because the real picture is as the article said, we're talking about the euro at "$1.5646 against the dollar, down from its all-time peak of $1.6018". Translation: the euro's up, a lot.
What really baffles me here is all the idiots that say that this exchange value is somehow "bad", and that everything was better --back during 9/11?
LLS
Yes, 300-400 pips isn’t all that much of a plunge. It happened slowly all during the week. Shorting the Euro against the dollar was a profitable position. The Sterling also dropped about 300 pips, but rallied back about 200 on Friday.
This article is a little overstated, at least as far as the actual exchange rates are concerned. The comments by the socialist pinheads are a bit more concerning though.