On The World Scene - Gene H Hogberg - April 03, 1978

Gene H Hogberg

DOLLAR PLUNGES, ISN'T THE PRESIDENT WORRIED? Last Friday's announcement of the worst monthly trade deficit in U.S. history - 4.52 billion dollars for February - took even the Commerce Department officials by surprise. They had expected the shortfall to be in the range of 3 billion dollars. There were some extenuating, short term circumstances involved in the whopping deficit, but these did nothing to calm fears of money managers overseas who unloaded greenbacks, sending the dollar down to 218 Japanese yen and fractionally under 2 German marks. - Information Supplied By: Herbert W Armstrong Library