The soaring greenback and plunging energy prices are two sides of the same storm hitting the North American economy today.
Goldman Sachs President, Gary Cohn told CNBC on Wednesday he is very concerned about the short-term window for oil and said crude prices could fall to $30 a barrel as the industry runs out of storage space. Here is a direct video link.
“the effects of the soaring dollar are just starting to be felt; for US exports, manufacturing, and jobs – it is not going to be positive.” –Gary Cohn, Goldman President, March 10, 2015
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