Posted on 11/02/2007 5:23:12 AM PDT by Thorin
The euro, worth 83 cents in the early George W. Bush years, is at $1.45.
The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century.
Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800.
Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years?
Nope. The dollar has plummeted in value, more so in Bush's term than during any comparable period of U.S. history. Indeed, Bush is presiding over a worldwide abandonment of the American dollar.
Is it all Bush's fault? Nope.
The dollar is plunging because America has been living beyond her means, borrowing $2 billion a day from foreign nations to maintain her standard of living and to sustain the American Imperium.
(Excerpt) Read more at worldnetdaily.com ...
You tell it Pat...tell it like it is!
Why is Buchanan so upset? He’s the one who wanted to tax the bejeebers out of imports to begin with in order to make them more expensive compared to American goods. Now that’s exactly what we’ve got anyway with a low dollar. The only difference is that the market determined when and how much, not some pin-headed government bureaucrat sitting in a stuffy office in Washington, D.C. We moved efficiently to this result by means of market mechanisms.
Is Buchanan buying into the European bullcrap that the value of your currency has relevance independent from its economic signficance because it’s a matter of National “prestige?” Personally, I would rather have a strong economy than a strong dollar. My National pride is not conditioned on the value of the dollar.
What exports?
We’ve squandered our entire industrial base.
What have we got to export anymore?
Grain? Cattle. Leftist Hollyweird movies and CD’s.
Yeah, about like martin luther did.
Naive drivel pandering to people's naivete.
It’ll get worse before it gets better but like all cycles it will turn around.
Although it looks like oil and gold will continue to rise: oil to $100 and gold perhaps to $900. The deficit is the main problem, and somewhere Friedman is spinning in his grave.
Wrong. The dollar is way to week and it is hurting middle class families.
Another know nothing hysteric myth without the slightest base in fact. Pat is almost a stupid as Ron Paul. $2 billion a day would be a federal deficit of 730 billion a year. Our actual Fed Deficit this year is around $190 billion.
Once again Pat demonstrates he is so sunk into senility that he has lost all touch with factual reality.
I guess Pat”SS” Buchanan blames the joooos for this one.
No, you are. The only reason our chronic and enormous deficits have not already impoverished America is that the dollar has been the reserve currency for the rest of the world. That is slowly changing, as the dollar falls in value. And when it does change, we will have no one to balme but ourselves and our profligacy and improvidence.
Very appropriate screen name.
Praytell, can you elaborate on this assertion of yours?
Praytell, can you elaborate on this assertion of yours?
-
Sure:
Peoples. Republic. of China.
Any questions?
Holy crap. You can’t be serious.
There is almost no difference these days between Pat and the far Leftists. Both are completely panicked by the normal operations of the Capitalist Free Market system
787’s
Did you read the column? Are you actually capable of reading and understanding? Or are you merely conditioned to spout moronic soundbites when you hear the appropriate word?
Yes.
Buchanan nails it.
LOL!
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