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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: RSmithOpt

http://data.bls.gov/cgi-bin/surveymost?ce


281 posted on 11/02/2007 10:09:05 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: Thorin
Yes, Buchanan's great book on trade, "The Great Betrayal."

No link?

282 posted on 11/02/2007 10:10:16 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: Toddsterpatriot
>>>>No link?

No, it's a book. I'm not here to do your research for you. Besides, you're the one who needs to do research, since your side is the one losing the public debate. Most Americans now believe free trade is harmful to the economy.

283 posted on 11/02/2007 10:14:27 AM PDT by Thorin ("I won't be reconstructed, and I do not give a damn.")
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To: MNJohnnie
Buchanan is a total moron

Your the same disgusting jackass that wished for death and destruction of Americans that were fleeing for their lives, with thousands losing everything they've worked for in the recent California fires.

I remember your sadistic, twisted comments of "burn baby burn" while hundreds of fire fighters and others risked their lives, with some dying in the flames.

Ya think me or others have forgotten what you stated?

Yet you still show your face here?

You not only have no class...Like I told you two weeks ago sicko...You're a dirty rotten POS who should be under 24 hour surveillance for the good of all.

284 posted on 11/02/2007 10:16:32 AM PDT by dragnet2
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To: jveritas
Long Live Walmart. It is because of Walmart and similar outlets that we are able to have the best standards of living the world. We can buy, buy cheap, buy a lot, and enjoy life.

No, Jv, it's because of the blood sacrifice of millions of Americans that we enjoy this life. I wish you could have seen my America before it went global walmart.

285 posted on 11/02/2007 10:18:10 AM PDT by AuntB (" It takes more than walking across the border to be an American." Duncan Hunter)
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To: Thorin
Most Americans now believe free trade is harmful to the economy.

Public education has ruined America.

286 posted on 11/02/2007 10:18:59 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: 1rudeboy

And we’re on different sides of this issue, why?


287 posted on 11/02/2007 10:19:10 AM PDT by durasell (!)
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To: JPJones

Right. Now why do you think OPEC is increasingly reluctant to accept U.S. dollars for oil?


288 posted on 11/02/2007 10:20:09 AM PDT by Alberta's Child (I'm out on the outskirts of nowhere . . . with ghosts on my trail, chasing me there.)
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To: Thorin
Most Americans now believe free trade is harmful to the economy.

Those polls usually correlate with which party controls Congress, but that's beside the point. We need another Ronald Reagan. The free-traders are simply the first to see it.

289 posted on 11/02/2007 10:20:30 AM PDT by 1rudeboy
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To: Toddsterpatriot
Yup and that temporary injection money just added another 3-4% in the annual inflation rate coming in the next 12 months easily that;'s on top of the 3.5% annualized.....they've done that now 3 times in less than 2 weeks to the tune of $160 Billion in hopes of averting panic in the markets and a run on the dollar (which is happening). The brokerages and the central bank and the White House are scurrying.

Our economy will not go belly up overnight, as neither will our standard of living, however, politics, greed, etc. have us now on the down slope with the respect to both.

The sub-prime fiasco is the culprit this time to the tune of 2.9 trillion total. CITIBANK dropped 7% yesterday.....look at the share prices (2 yr charts) of the major financial banks and brokerage houses....not good....I bailed on them in September....it is unavoidable.

You do know who's gonna pay for that don't you? The American worker in the form of government led inflation, higher interest rates, loss of equity in their homes, loss of return on stock investments.

Who's going to pay for the 4.4 million brand new homes setting empty across this nation? Can we export that stupidity and those losses?

290 posted on 11/02/2007 10:21:02 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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To: durasell

Because you see government as the solution, and I see it as the problem.


291 posted on 11/02/2007 10:21:10 AM PDT by 1rudeboy
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To: Thorin
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.

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 (1:20:46 PM)
Employment, Hours, and Earnings from the Current Employment Statistics survey (National)

Series Id:     CEU0500000031
Not Seasonally Adjusted
Super Sector:  Total private
Industry:      Total private
NAICS Code:    N/A
Data Type:     AVERAGE WEEKLY EARNINGS, 1982 DOLLARS
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
1993 256.07 256.64 255.12 255.99 259.93 257.82 258.40 260.65 259.12 259.34 259.63 261.78 258.45
1994 260.07 257.10 258.98 259.90 261.76 260.08 259.85 259.39 260.87 263.35 259.59 261.72 260.29
1995 259.25 257.65 256.59 257.66 255.75 257.80 259.89 258.94 260.32 261.52 259.95 260.61 258.78
1996 253.47 257.54 256.94 256.77 257.20 262.42 258.65 261.45 264.20 261.05 261.47 265.05 259.92
1997 258.79 262.78 263.86 262.43 263.19 266.15 264.24 266.77 267.65 268.17 270.86 271.35 265.60
1998 267.79 271.61 271.12 268.52 271.22 271.26 271.09 275.80 271.66 274.00 276.09 276.09 272.18
1999 271.90 273.93 272.84 272.95 276.00 275.18 275.57 278.17 273.40 275.92 275.36 276.98 275.03
2000 277.77 274.31 272.53 277.75 274.03 274.05 277.32 275.88 276.12 278.98 275.47 276.75 275.97
2001 272.91 273.59 273.67 274.46 272.52 273.63 278.04 276.42 277.87 275.46 277.04 283.08 275.71
2002 276.17 277.72 276.37 275.88 276.51 282.40 277.62 280.25 283.03 279.63 279.21 285.01 279.18
2003 278.27 279.12 277.60 275.33 277.55 281.93 278.44 279.25 278.91 279.00 284.06 280.45 279.13
2004 277.71 281.10 276.27 276.10 279.17 274.61 277.35 280.91 277.69 277.30 276.40 279.73 277.88
2005 279.74 276.77 274.27 274.38 277.63 275.46 275.58 275.03 273.63 277.17 276.36 277.81 276.17
2006 279.08 276.33 276.14 278.53 273.88 275.81 278.62 277.10 280.04 286.32 282.75 284.36 279.19
2007 281.12 280.54 280.30 281.80 277.07 279.52 283.40 282.12 286.39(p)        
p : preliminary

 

U.S. Bureau of Labor Statistics
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Washington, DC 20212-0001

Phone: (202) 691-5200
Do you have a Data question?
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Looks like earnings have improved since NAFTA.

292 posted on 11/02/2007 10:21:57 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: RSmithOpt
Yup and that temporary injection money just added another 3-4% in the annual inflation rate

That temporary injection will be reversed in a week or two. No inflation involved.

293 posted on 11/02/2007 10:23:45 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: MNJohnnie

I agree with you. As in everything economics its cyclical. There will always be correcting going on. Its the yin and the yang, the give and take, the ebb and flow. A weak dollar is OK for a while, not forever. Its not all black and white.


294 posted on 11/02/2007 10:24:11 AM PDT by BreezyDog
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To: Cringing Negativism Network

“What exports? We’ve squandered our entire industrial base. What have we got to export anymore?”

Criminey! Pick up a business page every once in a while, fella. The US has an incredible industrial base. Why say stuff like this? It’s based on nothing but a glass half empty mentality.


295 posted on 11/02/2007 10:25:52 AM PDT by cowtowney
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To: AuntB
No, Jv, it's because of the blood sacrifice of millions of Americans that we enjoy this life.

Thanks for the badly needed perspective here, AuntB.

Without the rank & file American, so often ignored by the economic ideologues, there would be no 'strong economy'.

296 posted on 11/02/2007 10:26:06 AM PDT by skeeter
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To: Mr. Jeeves

We can relax all regulation and drop taxes to zero, we still won’t compete with China in terms of wages. Heck, even China is losing jobs now to Vietnam. Go figure.

I used to think that the way to keep America competitive was to recruit the “big brain boys” from other countries. The thing is, they’re now like guns for hire. The big brain you hire today could be working for a German company tomorrow. They don’t care where they live. NYC isn’t that different from London, Paris, Madrid or Berlin.

I’ve seen this first hand. It’s the upside of globalism for a lot of people.


297 posted on 11/02/2007 10:26:23 AM PDT by durasell (!)
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To: Toddsterpatriot

Here’s a link: http://64.233.169.104/search?q=cache:W17zozFs-7QJ:www.epinet.org/content.cfm%3Fid%3D2778+median+hourly+wage+stagnant&hl=en&ct=clnk&cd=3&gl=us


298 posted on 11/02/2007 10:28:47 AM PDT by Thorin ("I won't be reconstructed, and I do not give a damn.")
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To: 1rudeboy

I see government as a solution to many problems. To stretch an analogy, it’s a tool, just as business organizations can be tools of progress.

However, I don’t see gubmint as a solution to this problem. I don’t see a solution to this problem. All I see is management of the unpleasant consequences.


299 posted on 11/02/2007 10:28:59 AM PDT by durasell (!)
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To: Alberta's Child
Right. Now why do you think OPEC is increasingly reluctant to accept U.S. dollars for oil?

Because we're infidels....?

300 posted on 11/02/2007 10:31:48 AM PDT by JPJones
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