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What Corporate CEOs Are Saying About The Soaring Dollar
On the one hand there is the (self-admitted) persistently over-optimistic Fed saying it's not a big deal:
- BULLARD SAYS DOLLAR NOT A HUGE FACTOR FOR U.S. ECONOMY
And on the other hand, this is what actual CEOs are saying...
PPG 1/15 - "The company expects that year-overyear currency translation will unfavorably impact sales"
United Continental 1/22 - "While a strong dollar is good for our fuel purchasing, it reduces the revenue received from international ticket sales."
JNJ 1/20 - "...If currency exchange rates were to remain where they were as of last week for the balance of the year then our sales growth rate would decrease by nearly 5.5%"
American Express 1/21 - "We, like many other global companies, had a significant negative impact on our growth rates this quarter from the strengthening U.S. dollar."
United Rentals 1/22 - "The Canadian dollar has been weakening pretty consistently... that would be another 6% or so year-over-year headwind from the currency going down. So that’s a non-trivial amount of revenue that could erode."
Kansas City Southern 1/23 - "If the peso continues to deteriorate... we will see additional headwinds"
MMM 1/27 - "in tough environments and fighting through tough headwinds... That includes a stronger U.S. dollar, which reduced fourth quarter sales by more than 4%"
DuPont 1/27 - "macroeconomic and market headwinds including a weaker ag economy, stronger dollar... the dollar continued to strengthen against most currencies, impacting segment results"
Danaher 1/27 - "The strengthening of the U.S. dollar since our December investor meeting is expected to reduce 2015 earnings by approximately $0.10 per share."
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HHmm.. who do you believe? The Fed or The CEOs?
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RE
Neither?
I believe the FED!
I also believe:
The checks in the mail
I will be respected in the morning, and
Hey! What's this crap in my mouth!
My thoughts exactly! I don't know which white shod Wall Street boy or chocolate highway "maiden in waiting" hanging out in the DC's K-Street Kiddie Brothels is in charge of the US "currency war" strategy. What I remember from 5th grade history is that the winner of a currency war is the soveriegn that ccan allows it's curreny to fall the most without having their hat handed to them.
If the US dollar collapses, poor poor Microsoft, IBM and apple won't be able to pay their New Delhi sweat shop and boiler plate system shop slaves. Those guys, GM Ford etc etc will have to repatriate their off shore assets and they, along with their fat cat customer base will loose all those tax subsidies.
How much more can some FED FMOC chair suggest shorting gold or USTs before it bithems on the ass?
Given that common sense and practicality became a romantic fantasy lost to the myst of the ether when shabby sheik wal mart elite mericons reduced have allowed the world to be reduced to the view from a handheld iScreen - anything makes sense - kissing rattle snakes - pissing into the wind - voting - the rule of non-law etc etc
It's tough to make predictions, especially about the future. Yogi Berra
Industrial and transport CEO's don't matter. What do Jamie and Lloyd think?
Don't worry, the Dollar is un-soaring as we speak.
What does Bath House think?
If you could teach a monkey to read a teleprompter you would at least have a cost saving replacement. And half the sheeple would still expect it to think.
Who can you believe look at the markets are they going up or down so confusing. So is a strong dollar good or bad
Yes.
For American consumers, American corporations, foreign consumers, or foreign corporations?
It's all a matter of degree and perspective. In general a strong dollar in a strong world economy is a pretty good thing. A strong dollar in a weakening world economy is a noose that can strangle the US economy. That's an over simplification, buy you get the jist.
Is Dullard competing for the I am the most dishonest, the pimpiest, the lyinest POS in the West? MOF rumor has it he is a shoe in. Seriously how many pairs of underwear does he soil a day. Integrity is a 4 letter word with these chumps.
Everyone knows you can't touch Bernanke in that category.
I guess the only thing you can believe is the size of dividend check
Seems to me corporate CEO's are saying buy our stock with both hands using the strong dollar.
More butts in the tent for the big show!
The Fed only cares about TBTJ who are again trying to have their phantom AND SENIOR financial claims on real flows of value further concentrate "wealth" and control in the financial sector via v abuse of control of the effective money supply. It's glorified theft from producers and investors.
Q + E + 4
For the chilluns...
I do find the losses from Venezuela kinda interesting actually.
God forbid if they ever lost one dollar in the USA....but a billion in Venezuela?
Its nothing really. "Just another billion. No biggie."
Fed or CEOs....Fed or CEOs....
Can I go with my gut for a dollar Alex?
The US used to soar on the wings of eagles, now we are just circling on the wings of vultures
Walking under circling vultures more like.
All the same carrion eaters once you get on the ground.
This plus cold weather spells the end for this economy, no one has ever run a functional economy during a polar vortex
Because US corporations = US economy, right Tyler?
What bunch of crap. Like I really care that American Express's earnings are going to be 10 cents lower thus quarter.
Typically talking their books. Think that we are stupid not to know that hedging is SOP for Corporations.
This is a real crisis! The CEOs' bonuses are at risk!!!!!!!!!
The South was right!
The strong Dollar is only bad if you are an Exporter or get most of your profit from out of the Country. The reason that the big Exporters hate the high Dollar is simple. Take Boing. A quote comes in for 10 Planes and Boing says we can sell them to you for say US100 mill. Next, Airbus is asked how much for 10 Planes and they can say we build them for you for US90 mill. One lost job, I would say.
The cost to build in dollars does not decrease domestically, just because the dollar is "stonger" relative to other currencies. What actually happens is that, for foreign buyers, the cost to buy increases for them, because it requires MORE money in terms of their own currency to make the same purchase. Foreign order volumes thus statistically decrease as a result.
The final result is similar to what you've indicated, though you've stood the dynamics on its head.
This is what motivates currency wars, and why almost every other central bank is printing money to keep pace with the others --barring the Swiss, of course, who threw in the towel.
Get to work Mr Bullard! You Fucktard.
What I dont get is...some of these companies are going to report reduction in revenues but if the dollar is stronger then the real value of those revenues might not be actually reduced, right? They are receiving fewer dollars but those dollars are worth proportionately more. The cost of fuel, parts, and materials should have all gone down, so where's the loss?
I notice they are saying "revenues" will go down but not PROFITS.
So a Fed chairman, a CEO, and Satan walk into a bar..... order drinks and agree on everything.
Meh.... CEO's are always looking for their next excuse....
Heads, I win. Tails, you lose.