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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: Perdogg
I guess Pat”SS” Buchanan blames the joooos for this one.

Seems to me like you are the one obsessed with Nazis and "joooos."

41 posted on 11/02/2007 6:02:46 AM PDT by SergeiRachmaninov
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To: DungeonMaster

Guess what?

The portion of the plane engineering and production which is outsourced, will slowly increase.

Eventually those foreign engineers will end up working for some aerospace firm in Shanghai or Beijing. Funded by the Chinese government. Working with American designs.

And you’ll be competing with China. At a 100 to 1 price disadvantage.

Wonder if you’ll be eager to defend the “free market” then...

We are truly in a race to the bottom.

“Free market” means we’ll keep losing jobs and industries, until working Americans make no more for our efforts, than the cheapest, most corrupt major foreign competitors pay their own people.

Then we’ll all be slaves.

Wonderful.


42 posted on 11/02/2007 6:05:12 AM PDT by Cringing Negativism Network (I like Duncan Hunter)
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To: cbkaty
They adjust anyway, with no effort on our part, thru the exchange rate mechanism. The problem with trying to match the taxes imposed by other countries is that they don't sell the same thing we do, so you can't really do it, and they don't impose them evenly on everything they sell. What causes the inefficiencies is monkeying with the relative prices. If you impose a 10% tax on everything, for example, it would be just the same as letting the exchange rate adjust by 10%, which is no big deal. But if you only tax certain things 10%, then you've created an inefficiency. So matching their self-imposed inefficiencies is not really in our best interest. It's smarter to simply let the market adjust. Of course, it takes a lot of time, but a slow adjustment may be more efficient than a fast one. Let the market decide that, too.
43 posted on 11/02/2007 6:06:15 AM PDT by Brilliant
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To: Thorin

bookmark


44 posted on 11/02/2007 6:08:20 AM PDT by ExGeeEye (I've been waiting since 11/04/79 to do something about Iran.)
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To: Kozak
How about that Balance of trade deficit Pat always had a hard on about? Thought not.

Have you looked at the capital account surplus lately? Any thoughts on that?

45 posted on 11/02/2007 6:09:12 AM PDT by Mase (Save me from the people who would save me from myself!)
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To: SergeiRachmaninov; Junior_G; period end of story; gogogodzilla; Hydroshock; durasell; Thorin
An older article but gives the simplest explanation of the trade offs between strong and weak dollars.

A Dinocon Isolationists, like Buchanan and his clique, should be ecstatic about the weak dollar. A weak dollar hurts our foreign competitors, it helps the most efficient parts of our economy grow market share and it helps wean US Consumers off our addiction to cheap imported goods.

http://gbr.pepperdine.edu/041/devaluation.html

46 posted on 11/02/2007 6:11:27 AM PDT by MNJohnnie (Pacifism is not moral. True morality requires evil be opposed, not appeased)
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To: Cringing Negativism Network
Look for, the union label, when you are buying that coat, dress or shoes.

You sound just like my union thug dad.

47 posted on 11/02/2007 6:12:56 AM PDT by DungeonMaster (Al Gore, the Jessie Jackson of weather.)
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To: DungeonMaster

I have never been a union member.

But if Republicans don’t stop blindly supporting the systematic dismemberment of our national productive infrastructure under the mantle of “free trade”, it won’t matter.

Because middle Americans, p*ssed off at the sell-out, will elect Democrats.

Who will stop it.

Sure, they’ll foul up everything else, and then we’ll really be in a pickle — but selling American jobs to the lowest international bidder is hardly a winning election strategy for the GOP.

Just look at the last elections.


48 posted on 11/02/2007 6:17:07 AM PDT by Cringing Negativism Network (I like Duncan Hunter)
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To: Cringing Negativism Network
But if Republicans don’t stop blindly supporting the systematic dismemberment of our national productive infrastructure

Post #29. Over $1 trillion in exports. Some dismemberment. LOL!

49 posted on 11/02/2007 6:24:53 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: Toddsterpatriot

Are you referring to the “Pizza Manufacturing”?

Or the frozen hamburger shipping?...


50 posted on 11/02/2007 6:25:54 AM PDT by Cringing Negativism Network (I like Duncan Hunter)
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To: Thorin; All

Interesting article, better thread. Thanks to all contributors.


51 posted on 11/02/2007 6:26:25 AM PDT by PGalt
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To: Cringing Negativism Network
And how much of that do we do in America?
52 posted on 11/02/2007 6:27:30 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: Cringing Negativism Network

yay let’s kill the economy. everyone lose their high paying jobs because of this fantasy that manufacturing jobs are better. Look, eventually all these manufacturing jobs will be completely automated.


53 posted on 11/02/2007 6:28:06 AM PDT by ari-freedom (I am for traditional moral values, a strong national defense, and free markets.)
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To: Hydroshock
Wrong. The dollar is way to week

The dollar is way to year....

54 posted on 11/02/2007 6:28:49 AM PDT by NeoCaveman (Every time you’re somewhere, that means you’re not somewhere else, Fred D Thompson 44)
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To: Cringing Negativism Network
The portion of the plane engineering and production which is outsourced, will slowly increase.

Boeing executive faults some 787 suppliers

55 posted on 11/02/2007 6:30:29 AM PDT by Mase (Save me from the people who would save me from myself!)
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To: period end of story
The deficit is the main problem, and somewhere Friedman is spinning in his grave.

Which deficit? The last fiscal year federal budget deficit was only 160 billion dollars or 1.2% of GDP, low by historical averages.

Heck if the Congress doesn't pass their appropriations bills and we just go on continuing resolutions we might have a balanced budget this time next year.

56 posted on 11/02/2007 6:30:39 AM PDT by NeoCaveman (Every time you’re somewhere, that means you’re not somewhere else, Fred D Thompson 44)
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To: Toddsterpatriot

It’s your list you spam in every “free trade” thread.

You tell us!

Which column is for the Pizza Manufacturing?

Which one, includes the frozen hamburger shipping?


57 posted on 11/02/2007 6:31:29 AM PDT by Cringing Negativism Network (I like Duncan Hunter)
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To: Thorin
...to sustain the American Imperium.

Such an idiot.

58 posted on 11/02/2007 6:32:59 AM PDT by Petronski (Here we go, Steelers. Here we go!)
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To: Cringing Negativism Network
Which column is for the Pizza Manufacturing?

Which one, includes the frozen hamburger shipping?

Sorry you don't know how to read. That post was our exports, not our manufacturing. If you think pizza and hamburgers are somehow important, find some data and post it.

Or keep whining. LOL!

59 posted on 11/02/2007 6:34:13 AM PDT by Toddsterpatriot (What came first, the bad math or the goldbuggery?)
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To: Toddsterpatriot

Do you sell imported goods, by any chance?


60 posted on 11/02/2007 6:35:36 AM PDT by Cringing Negativism Network (I like Duncan Hunter)
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