GM & Chrysler Dealership Closings won’t bode well for the Dollar!

By Sean Hyman | May 15, 2009

Even though these companies may go into and back out of bankruptcy…GM and Chrysler and the Detroit auto industry in general, just “does not get it”. As Detroit fumbles the ball and gives up even more market share to Japan (Toyota, Honda, Mazda, etc.), it won’t bode well for the U.S. dollar. It’s simply a negative sentiment issue when you see icons of American ingenuity go up in smoke. It’s things like this that will only accelarate the fresh “dollar downtrend” that we’ve just entered.Who could benefit the most? the Anti-dollar (as it’s nicknamed)…which is the euro.