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Sinking Currency, Sinking Country
World Net Daily ^ | 11/02/07 | Pat Buchanan

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 ...


TOPICS: Business/Economy
KEYWORDS: alasandalack; democrat; depression; despair; doom; dustbowl; economicignorance; economictreason; freetrade; fretradefolly; mercantilism; patbuchanan; pitchforkpat; sackclothandashes; woeisme
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To: am452

And that threw a serious monkey wrench into the supporters of the North American Union which is the predecessor to the New World Order / One World Government.


261 posted on 11/02/2007 9:36:45 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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To: Thorin
In real dollars, wages have been largely stagnant for decades.

Is that your feeling? Or do you have a factual source?

262 posted on 11/02/2007 9:36:46 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: Toddsterpatriot
I didn't claim the gains were due to NAFTA.

You have before. Shall I post your comments and make you look like a fool?

You can't blame losses on NAFTA when there were net gains, can you?

The gains in manufacturing jobs were in the '93/94 era before Nafta was passed and right after before any person with common sense knows companies would not have had time to move to mehico. When nafta was in after a few years the maufacturing jobs started to show losses.

263 posted on 11/02/2007 9:37:22 AM PDT by am452 (If you don't stand behind our troops feel free to stand in front of them!!)
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To: Toddsterpatriot

About 50% the Chinese global trade surplus dollars is being used to make arms for China and building up their infrastructure - it’s in their constitution basically.


264 posted on 11/02/2007 9:40:00 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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To: am452
The gains in manufacturing jobs were in the '93/94 era before Nafta was passed and right after before any person with common sense knows companies would not have had time to move to mehico. When nafta was in after a few years the maufacturing jobs started to show losses.

Skip Navigation Links   Latest Numbers
DOL Seal - Link to DOL Home Page
Photos representing the workforce - Digital Imageryý copyright 2001 PhotoDisc, Inc.
 www.bls.gov  Advanced Search | A-Z Index
Change Output Options: From:   To:     
include graphs NEW!
Data extracted on: November 2, 2007 (12:41:17 PM)
Employment, Hours, and Earnings from the Current Employment Statistics survey (National)

Series Id:     CES3000000001
Seasonally Adjusted
Super Sector:  Manufacturing
Industry:      Manufacturing
NAICS Code:    N/A
Data Type:     ALL EMPLOYEES, THOUSANDS
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1991 17329 17214 17141 17093 17069 17042 17016 17025 17011 16997 16960 16916  
1992 16839 16831 16805 16830 16834 16825 16822 16782 16762 16750 16758 16768  
1993 16790 16806 16795 16771 16766 16742 16742 16741 16768 16778 16800 16815  
1994 16853 16862 16896 16932 16962 17011 17027 17082 17114 17144 17187 17218  
1995 17259 17264 17263 17278 17260 17250 17218 17241 17246 17215 17207 17230  
1996 17206 17229 17192 17204 17221 17226 17222 17255 17253 17268 17276 17285  
1997 17298 17316 17339 17351 17362 17387 17387 17451 17466 17513 17555 17587  
1998 17621 17627 17637 17636 17624 17607 17421 17564 17558 17512 17466 17449  
1999 17426 17394 17368 17342 17333 17294 17319 17288 17281 17275 17283 17277  
2000 17285 17285 17302 17299 17276 17297 17325 17287 17232 17215 17204 17181  

 

U.S. Bureau of Labor Statistics
Postal Square Building
2 Massachusetts Ave., NE
Washington, DC 20212-0001

Phone: (202) 691-5200
Do you have a Data question?
Do you have a Technical (web) question?
Do you have Other comments?

LOL!

265 posted on 11/02/2007 9:42:29 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: am452

The gains in manufacturing jobs were in the ‘93/94 era when the economy was recovering from the recession and companies were rehiring before Nafta was passed and right after before any person with common sense knows companies would not have had time to move to mehico. When nafta was implemented the job losses started to show up several years after.


266 posted on 11/02/2007 9:43:55 AM PDT by am452 (If you don't stand behind our troops feel free to stand in front of them!!)
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To: 1rudeboy

That wasn’t intended to be cute — it’s reality.

I don’t believe the problem isn’t tariffs or dollar value.


267 posted on 11/02/2007 9:50:34 AM PDT by durasell (!)
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To: Hydroshock
The dollar is way to week

I think public schools are hurting middle America.

268 posted on 11/02/2007 9:51:23 AM PDT by chesty_puller (70-73 USMC VietNam 75-79 US Army Wash DC....VietNam was safer.)
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To: Thorin

Bookmark


269 posted on 11/02/2007 9:52:43 AM PDT by dragnet2
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To: chesty_puller

LOL


270 posted on 11/02/2007 9:53:08 AM PDT by Petronski (Here we go, Steelers. Here we go!)
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To: am452
The gains in manufacturing jobs were in the ‘93/94 era when the economy was recovering from the recession and companies were rehiring

The recession ended in March 1991.

271 posted on 11/02/2007 9:53:14 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: durasell
The reality is that we live in a dynamic economy, and the people who think they can "stop the clock" or call "time out" are the ones having difficulty with reality.

As an aside, I'll note that our textile manufacturing sector is humming right along . . . I believe you meant apparel manufacturing (just a pet peeve of mine when the two are confused).

272 posted on 11/02/2007 9:58:34 AM PDT by 1rudeboy
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To: Mase

Most of the crises experienced over the last 15 years, beginning with the Persian Gulf crisis of 1990, were related to problems outside the United States.

There was a flight of safety into U. S. Treasury bonds by some domestic investors, but also by international ones. This, in turn, tended to strengthen the U.S. dollar in times of crisis. However, with the Fed again embarking on a massive money printing operation would foreign investors still consider the U. S. dollar and U. S. bonds to be safe? I doubt it.

Under such circumstances a far more likely outcome would be a rapid sell-off of the dollar and, along with it, selling off U. S. bonds. In the wake of massive selling of bonds by foreign investors, interest rates would likely rise and a further loss of confidence in the dollar would follow.


273 posted on 11/02/2007 9:59:18 AM PDT by fweingart (FRED! (How is Mumia Abu-Jamal these days?))
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To: Toddsterpatriot
I want to build a wall and send illegals back. I'm with you 100% on that one!!!

According to the US Census Bureau:

The US population is:

U.S. POPClock Projection

According to the U.S. Bureau of the Census, the resident population of the United States, projected to 11/02/07 at 16:46 GMT (EST+5) is

303,271,972

Source:http://www.census.gov/population/www/popclockus.html

BTW, I actually used 330 million for the current population to give the 22%.

I'm not picking one fact to harp one; I'm not a prophet; I've just looked at a lot of data to include official US Census stuff, university studies, and several other non-profit organizations.

My personal opinions have been molded from studying such information since 12/2001 ands the 2002-2003 recession.

Why did the Feds drop the prime 0.25% and then the next day print $41 billion more new dollars?

274 posted on 11/02/2007 10:00:29 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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To: durasell
And the folks who thought there’d always be room for at least one more hardworking blue collar guy to support his family with an honest day’s work were wrong.

Well, the aberration was the Fifties - when due to WWII and American economic ascendancy it for the first time in history became possible for a hardworking blue collar guy to achieve a middle class lifestyle. Of course, that possibility quickly became viewed as the norm, and our political class has spent an extraordinary forty-year period trying to borrow tomorrow's prosperity to maintain the illusion. Now that China and India are ascendant and we are on the downslope, something is about to give...

The only way for the US to remain on top is to relax regulation, limit taxation, and encourage immigration (of the world's biggest brains - not more Mexican day laborers). Unfortunately, powerful segments of the political class oppose all three options, and thus we stand exactly where Britain stood a hundred years ago - at the brink of the precipice.

275 posted on 11/02/2007 10:00:36 AM PDT by Mr. Jeeves ("Wise men don't need to debate; men who need to debate are not wise." -- Tao Te Ching)
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To: Toddsterpatriot

Can you get 2001-Dec2006 data to append to that table?


276 posted on 11/02/2007 10:06:26 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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To: Toddsterpatriot
>>>>>Is that your feeling? Or do you have a factual source?

Yes, Buchanan's great book on trade, "The Great Betrayal." Lots of people have written about the pressure on working class wages, which largely is the result of free trade and mass immigration.

277 posted on 11/02/2007 10:07:26 AM PDT by Thorin ("I won't be reconstructed, and I do not give a damn.")
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To: Mr. Jeeves

All, well said.


278 posted on 11/02/2007 10:08:00 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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To: Alberta's Child

Part of the dollar’s fall is opec’s increasing reluctance to accept it for oil.


279 posted on 11/02/2007 10:08:36 AM PDT by JPJones
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To: RSmithOpt
303,271,972

So 22% is not 77 million. Glad you realized your error.

BTW, I actually used 330 million for the current population to give the 22%.

That'd be 72.6 million.

Why did the Feds drop the prime 0.25%

They thought they saw the economy weakening in the future.

and then the next day print $41 billion more new dollars?

That was a temporary injection of money.

280 posted on 11/02/2007 10:08:49 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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