Sinking Currency, Sinking Country

World Net Daily ^ | 11/02/07 | Pat Buchanan

[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.

[Toddsterpatriot]

US citizens must purchase goods produced by communists

You'll have to show us where in any free trade agreement it says we must purchase goods produced by communists.

Under "free trade", there cannot be any discrimination against communism as a form of government in their purchases

You don't have to buy anything produced by communists. Discriminate all you want.

We're not even 'free' to keep money out of communist countries anymore

Sure you are, don't buy their goods.

Will you ever tell us of what nation you're a citizen?

[hedgetrimmer]

We're not even 'free' to keep money out of communist countries anymore

Tell us the upside of Hu Jintao being a billionaire? Only in a crazy mixed up globalist's mind, is paying someone to be a communist dictator a good thing!

[Toddsterpatriot]

Tell us the upside of Hu Jintao being a billionaire?

I don't think there is one. So don't buy his stuff. That was easy.

So are you here legally?

[1rudeboy]

You’ve given us all sorts of reasons to oppose FTA’s with countries that do not have FTA’s with the United States. I’m asking you, why did you oppose our FTA with Australia? None of your hypothetical conditions apply (I can see how the question went over your head).

[1rudeboy]

I have purchased two (for sure) or three (maybe) Chinese products since the Tiananmen Square Massacre in 1989. Both of those cases were emergencies (meaning that I did not have the luxury to shop for an alternative).

Yet I, a believer in the free-market, am somehow forcing these people to buy Chinese products. Or somehow even more magically, the Federal Government must force me to not buy the products I'm not buying (or force me to stop forcing these people to buy Chinese products I'm not buying myself).

[IncPen]

The US then lets these folks sell their products in US markets and avoid ALL of those additional expenses.

The heart of the matter.

[FreedomPoster]

Index bump.

[valkyry1]

We might not be exporting much, but those industries have not been abandoned.

I think if there was a national will and leadership, those industries could be spun up fairly fast /relatively to the rest of the world)

I think that some of what we see is a manifestation of a stealth economic war against us, for example even if the low US dollar is taken out of the equation, I tend to doubt that Venezuela et al are charging their friends for a barrel of oil as much as what we are paying.

What do you think?

[valkyry1]

No doubt that is a big trade deficit, but in terms of deficit compared to size of economy, GDP or other markers, then what does it look like?

[dennisw]

I think that some of what we see is a manifestation of a stealth economic war against us, for example even if the low US dollar is taken out of the equation, I tend to doubt that Venezuela et al are charging their friends for a barrel of oil as much as what we are paying.

Iran and Venezuela often sell oil at discounted prices to "friendly" nations. It's a tool of foreign policy

USA and Europe always pay full price

[dennisw]

No doubt that is a big trade deficit, but in terms of deficit compared to size of economy, GDP or other markers, then what does it look like?

I have an oblique answer

Canada
Australia
European Union

Have no trade deficit and their currencies appreciate against the US dollar. So draw your own conclusions

[valkyry1]

They have already tested shale based fuel and oils for use on the B-52. I see those things as strategic resources, in fact we have huge reservoirs of resources.

People forget we are in are WOT, and it is going on in several fronts. What is the first thing to die in a war, truth, so why play all of our cards early?

[valkyry1]

bookmark bump for later ref

[Toddsterpatriot]

And you say there is not a growing disparity in wages?

When did I ever say that, comrade?

That's what nice about a site that saves all old post. I will find it this weekend and post it.

Hello, is this thing on? I'm waiting.

I'd understand if you spent the weekend researching the difference between median and mean. LOL!

[hedgetrimmer]

I have purchased two (for sure) or three (maybe) Chinese products since the Tiananmen Square Massacre in 1989.

Have you stopped eating, brushing your teeth and caring for your apartment?

[1rudeboy]

No, no, and no. No Chinese products used in the above. Zip.

I thought you might bring-up Chinese components, say, in my stereo or automobile. Don't you think it's rather pathetic that I have to identify your strongest arguments for you?

[am452]

I'd understand if you spent the weekend researching the difference between median and mean. LOL!

Actually I was with your wife all weekend.

[Toddsterpatriot]

You poor confused little man.

[Paul Ross]

His data is fascinating when you dissect out from the exports the things which we don't even make: TVs & VCR, DVD players, etc. None. NONE. Yet our vaunted commerce dept is taking credit for "exports" there...

So where do you suppose the "exports" are coming from since we aren't making them??? H'mmm?

[boomop1]

When will inflation start rolling? We can withstand a weak dollar for so long then somethings got to give.