Posted on 08/24/2010 8:16:05 AM PDT by blam
Dollar Plunges As Everyone Now Figures Return Of Quantitative Easing Is A Done Deal
Joe Weisenthal
Aug. 24, 2010, 10:45 AM
Today the weak economic data is not prompting a flight-to-the-dollar.
Today the weak economic data is causing dollar selling, because it's becoming crystal clear to folks, as ForexLive notes, that quantitative easing II is now a done deal. No more baby steps or holding the balance sheet steady. There's no excuse for the Fed Board of Governors to be have an unclear picture of the economy's direction anymore.
And we may not have to wait for very long. Bernanke speaks this Friday at Jackson Hole, and you can figure he'll be revising that speech now until then with every bad data point that comes across to get exactly the right message to the market.
[snip]
(Excerpt) Read more at businessinsider.com ...
What is the graph there? This is a huge drop. Dollar versus? What?
The only thing clear at this point is they don’t have a clue what to do.
Too bad they don't look at what has historically worked - like easing regulations that stifle business growth and tax breaks. It seems like the federal government is doing the exact opposite of what has worked in the past. New regulations, oil drilling moratoriums, energy taxes, helping unions raise wages and drive manufacturing overseas, increasing the size of the federal government, etc.
Why would 0bama do everything that is historically proved to Fail, and nothing that is historically proved to work?
The answer proves his goal.
What is the graph there? This is a huge drop. Dollar versus? What?
Actually, it all makes sense, if you think about what their real goal is. What else could be more carefully calculated to destroy America, than to implode the economy?
Doing the sensible things you suggest is counter to their aims. I just pray we can hang in there until we can gain enough seats to defund his most egregious anti-business moves.
Cut spending 50% and cut taxes 25% across the board. Nullify Obamacare and return the remaining Tarp funds against the deficit.
However, it's not easy if you're an elected politician and you have to stand before the electorate and tell them: It's going to REALLY suck for the next 2-3 years, then the private engine will begin pulling us out of this mess.
It is not really a huge drop (yet). Dollar vs. basket of currencies.
Remember this? We are being proven right day after day after day...
hey fdr ended the depression.
All it took was massive tax hikes, massive regulations a war and 17 years.
ZerO is on track to repeat.
bernanke is very good at running a small economics department at princeton.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.