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.

[Petronski]

Not only is he serious, he’s right.

[#1CTYankee]

"A weak dollar makes imports expensive and our exports cheaper."

We have seen an up-tick in the last six months on our overseas sales, weaker sales in the U.S. have been offset by the increased sales in Europe. We now have a price advantage over our competitors in Europe.

We are in the Picture Framing and Visual Communication equipment industry.

[Alberta's Child]

Hey, don't shoot the messenger. He's right on target here.

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.

The dollar is collapsing because every foreign investor with an IQ over 70 knows damn well that the U.S. is embarking on a well-planned effort to engage in a program of massive inflation to pay off our silly, delusional ideas about maintaining a standard of living that we simply cannot afford.

I said this two years ago, and it's looking more real by the day . . . It's 1973 all over again, folks.

[Kimberly GG]

“Spoken like a true open borders zealot.”

Yeah...there are still a few OBL Bush/econobots around. They’re always the first to attack on these types of threads and deny, deny, deny on the NAU threads. Just like our bipartisan CFR/OBL legislators, I swear, they’d sell out the country in a heartbeat for a buck.

[Toddsterpatriot]

No.

If I did, would that make post #29 less of an answer to your question, "What have we got to export anymore?"

[Petronski]

ROFLMAO

[Non-Sequitur]

It helps our domestic economy and helps wean us off our addiction to cheap imported goods.

It might except that we've already decimated our steel and textile and electronics and furniture industries, to name a few, in favor of foreign imports bought with strong dollars. So rather than wean us off cheap imported goods we're now going to have to satisfy our addiction with more expensive foreign goods.

[BlazingArizona]

You tell it Pat...tell it like it is!

Buchanan is famous for telling it like it WAS.

Pat, go ahead and party like it's 1899. See if the rest of us care.

[Cringing Negativism Network]

No, but it would explain your motives. :)

[Alberta's Child]

Our REAL Federal deficit is around $500 billion, if not more. That's the amount by which the national debt has increased from 2006 to 2007, so anything less than this amount is accounting gimmickry.

FYI . . . A Federal government that borrows $500+ billion additional dollars and reports a $190 billion deficit is a big reason why the dollar is in a steep decline against just about every major foreign currency.

[DungeonMaster]

Who is “selling” our jobs, the government or the corporations that own the jobs?

[Toddsterpatriot]

It might except that we've already decimated our steel

We don't make steel anymore?

[Toddsterpatriot]

Now that we know my motives are pure, are you going to post the data that proves your point, whatever that was, about burgers and pizzas? Or will you just whine some more? :^)

[Alberta's Child]

Contrary to what you often hear from people with a marginal (at best) understanding of economics like Lou Dobbs and Pat Buchanan, the United States of America is the largest manufacturer in the world today . . . and by a wide margin, too.

[hedgetrimmer]

Only in a way that doesn’t compete with Diane Feinsteins steel mills in Shanghai. Of course tariffs on steel might make the Chinese mad, so we can’t have them.

[NeoCaveman]

Our REAL Federal deficit is around $500 billion, if not more. That's the amount by which the national debt has increased from 2006 to 2007, so anything less than this amount is accounting gimmickry.

That 300 billion plus difference is the raiding on social security. In other words, it's one govt pocket borrowing from the other. When there is really no obligation to pay SS bennies in the future (the courts have held this to be true)

[Toddsterpatriot]

Our REAL Federal deficit is around $500 billion, if not more. That's the amount by which the national debt has increased from 2006 to 2007,

Why would you count debt held by the Trust Funds?

[Cringing Negativism Network]

OK this has been fun, but I gotta get ready for work.

Good luck in the discussions everyone, keep fighting the good fight. I’ll check in to read (but not post) from work.

(company rules about the use of the internet, and all)

BUY AMERICAN!! :)

[DungeonMaster]

We don't make steel anymore?

Yet we make tractors, cranes, cars, steel buildings, interstates, bulldozers etc etc. Must we make the steel too or the economy dies? Obviously not.

[1rudeboy]

That’s funny, I was thinking of getting back into the steel business because the sector is doing so well. But what do I know? I only worked there for ten years.