Economics explains human behavior in interrelated patterns. The fundamental part of economics revolves around rational decision making about cost consciousness. An economist on valuewalk.com looks at the maximization of benefit at the lowest cost available. Also, decisions are made in economics based on analysis of the markets, and prevailing conditions. Market analysis is a skill, which mature economists have and utilize to make appropriate choices. Trend analysis is one of the most helpful tools to understand occurrences and predict future changes in micro and macro factors.
Christian Broda is a New York-based economist. His work is widely read due to the great lessons he teaches people on proper ways of living. The advice is based on analysis of market behavior and future patterns. He specializes in understanding the financial markets, and the factors that cause fluctuations. According to Broda, every occurrence has a reason. He continues to say that if the reason can be ascertained, then the trend for the future events can easily be determined. As a financial professional, Broda is a professor of Economics at Washington University. His work continues to gain fame due to the number of predictions he has made with certainty. In fact, a majority of his economic predictions are found to be right. His work is published in the International Journal of Economics.
In 2004, the Bank of Japan was facing a crisis. Many economists predicted a fall in the system, while Broda showed confidence that the bank would overcome the turmoil. After proper analysis of the Japanese Yen, he assured the Japanese that the bank would not collapse. To date, the Bank of Japan is as high standing as any other banks. Debate rages on whether the United States Dollar will maintain supremacy over other currencies in the international market. The foreign exchange market is a complex market. It is due to the different news received on the changes in a particular currency. Therefore, if the universal currency is hit hard, all other currencies are affected.
Established economists in the industry argued that the dollar should be replaced with a common currency, which does not belong to any country.
In his response, Broda maintained that the dollar already had its lowest state in the wake of the Global Financial Crisis. If the dollar was able to arise from that state, then no other market conditions can kill the dollar dominance. Additionally, Christian explained that emerging markets were facing worse circumstances. Therefore, he explained that those that are predicting a fall in the dollar are engaging in “wishful thinking.”