Indy Telecom & Industrial Media

Remember that whole thing about sexy, hot models not wanting the USD? Well, turns out that it may not be entirely true.

CNBC has an update where the manager of the babe supermodel in question clarifies that she did no such thing.

They also offer the following clarification –

Nelson points out that Gisele lives in New York City, and thus needs U.S. dollars for her big-city lifestyle.

And American fans and contracts, of course.

Dealbreaker puts it best –

Also, it’s hard not to think that some sort of PR spin went into this denial. Gisele if you’re short the dollar, the American public will be short you! Retract, deny, rinse, repeat.

Of course it did. Then again, I guess if you are a rich hot babe, you can pretty much do whatever the heck you want.

Apparently, the dollar isn’t just scaring hedge funds and financial investors. Gisele Bundchen, the highest-paid Brazilian supermodel does not want to be paid in US dollars anymore.

That’s right, folks. You know things are bad when the (hot) women decide the dollar isn’t for them anymore.

Damn, and here I came to the US thinking that I could earn the big-bucks in USD so that I can get all those hot women (for cheap, no less). Oh well, I guess I’ll just have to move to Europe.

Jim Rogers, who worked with George Soros to build the multi-billion dollar Quantum Fund, feels that the US is “undoubtedly” in a state of recession. Not that I necessarily disagree with him; but I just feel that the market may need to make as much as a 10% correction before it can think of going back to being in the green. That could take as little as six months, given that there have been a lot of write-downs by financial institutions — or as long as a year or more.

Of course, that’s assuming that the shrub in power does not do something ridiculously stupid (you know, like attacking Iran) or some such crazy thing. In which case, we all can go back to living in caves etc.

And to top it off, Rodrigo Rato, the IMF chief, has warned that the dollar may suffer “abrupt failure”. And of course, other countries are taking steps to temper their local currencies from appreciating too much against the dollar, mostly because some of them are worried about a repeat of the late 1980s. This includes Asian countries (especially India and China) and of course some European countries which are wary of the sharp rise of the Euro against the US Dollar.

The US Treasury secretary had these pearls of wisdom to offer us –

US Treasury Secretary Henry Paulson, addressing the plenary session of the 185-nation twin financial institutions, also sounded a note of caution.

“We need to continue to be vigilant, because all of our capital markets are not yet functioning normally,” Paulson said.

“Not yet functioning normally” — when financial institutions are announcing losses in multi-billions and profits fall over 90%, not normally is as good a phrase as any, I suppose.