Roubini Predicts a Dollar Reversal
Dollar Up, Dow Down
Here's another great interview from Nouriel Roubini. He appeared on CNBC this morning explaining how the dollar carry trade has helped to inflate the markets —from stocks to commodities—to bubbly valuations.
The famed bearish economist told CNBC,"Now we are in the mother of all carry trades" noting that cheap dollars are pushing asset prices higher across the board.
The danger, he said, is when this trade reverses and the dollar inevitably heads higher. At that point, Roubini warned , there could be "a market crash all over the world"
Here are the cheery details.....
As for the dollar, the correlation with the rest of the market remains as strong as ever. In fact, when the dollar (UUP) rallied this morning the Dow (DJI)fell 200 points off the high.
Take a look:
Dollar up, Dow down....it is as simple as that.
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