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 ...
Thank you....Most us sheeple don’t have nuttin’ to go on but Gov - Shepple - Double - Speak chart number stuff.
Actually, he's right.
Most of what Congress spends -- whether it be Social Security, Medicare, that Farm Bill, the silly No Child Left Behind sh!t, etc. -- is spent on ordinary Americans. And the vast majority of these ordinary Americans would be the first to complain if any fiscally responsible candidate for public office suggested cutting this spending even just a little bit.
Data Type: ALL EMPLOYEES, THOUSANDS
You see, employees, not hours. You have to look at the chart, not the page above the chart.
The market is saying, “Get the hell outta stocks and hedge funds.”
Same with the agri-cotton pickers ect. If there is a failing by our futurists of past, they could have pointed this out and steered our youth in an a new direction. We are compounding the problem with the uncontrolled immigration of uneducated 3rd worlders. What are they gonna do when the jobs run out? Riot in the streets?
I don't think you're helping your case.
Roberts, of course, was one of the original supply siders, and served in the Reagan Administration
Before his mental illness became apparent.
I Agree....it has to do with our trade deficits and amount of debt in %GDP other nations own. If our dollar was strong 10 yr notes would be yielding 5.*-6.2% which is well above always gov reported domestic "CORE" inflation of being 2-4.5%. But, it shows the strong correlation between our overall standard of living, spending attitudes, savings attitudes, doing without, being able to make it month to month and taking on too much debt as a nation, government, otherwise.
Well, time will tell, won't it? I hope you are right about the economy, since I enjoy prosperity. But I think Buchanan and Roberts are right.
A 30-Day bill? I thought the T-Bills were 60 day and 90 day and everything else was notes and bonds?
I didn’t see it in time.
Don't you get it? The weak dollar is based on that 4.4% rate. Foreign investors are willing to accept a 4.4% rate of return, but they are demanding a steep discount on their exchange for U.S. dollars. My 2002 investment in a foreign currency has returned an average annual rate of about 5% in the last five years, but when measured in U.S. dollars my average return is 14.8%.
We're going to be so f'n rich." Verbiage from the Enron party video made public.
Nonsense
Australia & Canada currencies are doing great. No trade deficit
EU ---Their Euro is appreciating against the US dollar because no trade deficit
My Polish friend tells me the Zloty is rising against the dollar
BS. Congress has been living beyond it’s means, not Americans. The balance of American savings accounts has nothing to do with the strength of the dollar.
Pat raises a monumental issue re "American Imperium." The current world order is indeed arranged around an empire of sorts for which the USA is the dominant force. And no President since Hoover has attempted to withdraw this country from its role.
I view it as necessary -- it is basically like the problem of piracy on the open seas: if you want civilization, some powerful world force must be in a continual mode of defeating lawlessness.
I guess you'd have to prove the printing presses are rolling faster than our rate of economic growth first. Then you'd have to explain, if it is in fact true, why the entire bond market is missing it.
The Chinese, our friends and the ones who laughed gleefully when shown pictures of 9/11, would just love to dump their bonds. They will, no doubt, when it pleases them.
It's interesting to note that we are often told by people here how smart the Chinese are then the same people turn around and offer an example of an imminent action that would prove they're not very smart at all. China won't dump their bonds for a lot of reasons, most of all because it would cost them a huge amount of money.
I totally get it. If 4.4% isn't a high enough rate, the rate would be higher.
“””I think I’ve stumbled across dennis’ solution to our illegal immigration problem. Drive our economy into the tank so that they have no incentive to come over.”””
The ultimate conservative solution to the socialist’s taking over the US. We will not have money for liberal programs health care, SS, Medicare etc.
Kinda like Hilliary’s million other Ideas we can not afford.
Liberalism is a luxury we can do without
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