"Is a weak dollar better in the longer term? Maybe.... But, imo, it's not good for stocks - now."
But "now" could end at any moment. Growth of exports, continued low interest rates, government spending on tech, even lower mortgage rates, little falloff in consumer spending can make next year a alot better than we expect. And at some point it is hoped that the market will anticipate this with a rallY, whether bear or bull. Anyway thats the hope here. mike
Hard to tell at which point during the dollar's fall US assets will start looking like bargains again to foreigners. Already a number of US companies are priced at bargain levels compared to equivalent companies abroad. For example, US utilities and power producers are much cheaper than what comparable companies are in Europe. As the dollar falls the pricing power of US companies increases, so their profits should follow and they will become more attractive. Overall, however, foreign companies still are cheaper than US.
10 years ago 1£ stering was $2.00. I think we are heading that way again,now 1£=$1.57 up 15 cents in 5 weeks. Over here most expect 1£=$1.75,but I think within a year we could touch 1£=2$ and Gold could touch $400(it should have a blast off soon)
So this is the point- most overseas investors are not going to go crazy buying US stocks right now as their investments will be shrinking day by day with the falling Dollar.
%30 of trading and investments in US stocks is done by foreighners,this is not having a pleasant affect on the US market.
Additionally we in Europe view US stocks as a lot more pricey than our own.
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