[Thorin]

Buchanan nails it.

[SergeiRachmaninov]

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

[Brilliant]

Why is Buchanan so upset? He’s the one who wanted to tax the bejeebers out of imports to begin with in order to make them more expensive compared to American goods. Now that’s exactly what we’ve got anyway with a low dollar. The only difference is that the market determined when and how much, not some pin-headed government bureaucrat sitting in a stuffy office in Washington, D.C. We moved efficiently to this result by means of market mechanisms.

Is Buchanan buying into the European bullcrap that the value of your currency has relevance independent from its economic signficance because it’s a matter of National “prestige?” Personally, I would rather have a strong economy than a strong dollar. My National pride is not conditioned on the value of the dollar.

[MNJohnnie]

Buchanan is a total moron, again. A weak dollar makes imports expensive and our exports cheaper. It helps our domestic economy and helps wean us off our addiction to cheap imported goods. Thus a weak dollar is GOOD for our economy. A strong dollar, on the other hand does nothing but gratify the egos of Know Nothing dinosaurs like Buchanan.

[the invisib1e hand]

Buchanan nails it.

Yeah, about like martin luther did.

Naive drivel pandering to people's naivete.

[period end of story]

It’ll get worse before it gets better but like all cycles it will turn around.

Although it looks like oil and gold will continue to rise: oil to $100 and gold perhaps to $900. The deficit is the main problem, and somewhere Friedman is spinning in his grave.

[MNJohnnie]

I see Dogma Uber Alles. We shouldn’t actually look at the facts, we should cling to the Know Nothing dogmas screamed by never been anything fools like Pat here.

There is almost no difference these days between Pat and the far Leftists. Both are completely panicked by the normal operations of the Capitalist Free Market system

[Toddsterpatriot]

Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years?

Yes.

Buchanan nails it.

LOL!

[Kozak]

Looked at US export numbers lately? Thought not.
How about that Balance of trade deficit Pat always had a hard on about? Thought not.

[Redbob]

One Euro cost about $.93 when George W. Bush took office, early in the Clinton Recession.

Pat Buchanan says it was $.83.

What’s that word for intentional distortion of the truth?

Oh yeah: “LYING”

What other lies does he tell in this article?

[ExGeeEye]

bookmark

[MNJohnnie]

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

[PGalt]

Interesting article, better thread. Thanks to all contributors.

[Petronski]

...to sustain the American Imperium.

Such an idiot.

[MNJohnnie]

Try learning something for a change.

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

[capitalist229]

It's rather easy to raise the dollar again.

Just raise rates to contract the number of dollars.

Balance will be restored.

The party is over, America it's time to pay the bills.

BUMP

[ex-Texan]

CDS Traders Warn of 'Blood on Streets'

Excerpt:

The mood in credit derivatives markets turned ugly on Thursday, with the cost of insuring corporate debt hitting multi-week highs on both sides of the Atlantic.

Speculation was rife that leading major investment banks were facing additional losses linked to complex mortgage-backed securities, while worries mounted over the health of major financial guarantors.

"It's scary out there - there's blood on the streets," a trader at a US brokerage said. "It's a real mess." * * *

Rating Agencies Are Downgrading CDOs

The prospect of rating downgrades on complex debt instruments, along with massive writedowns at big banks, are raising fears that the credit crisis may deepen.

Collateralized debt obligations backed by mortgage securities are triggering another wave of worry on Wall Street. Banks have been hard-hit by a decline in the value of these securities, and investors and traders worry that more losses could result if prices fall further. * * *

The three major rating companies - Moody's, Standard & Poor's and Fitch - have put an estimated $70 billion worth of collateralized debt obligations, including those with the highest ratings, on review for downgrading. * * *

Oh, its not that scary. Wait a few weeks. You ain't seen anything yet.

178 Mortgage Lenders Have Imploded ! Since December, 2006.

Remember the great line in the "Ghostbusters" movie? When you need to refinance --

"Who Are You Gonna Call ?

[Joan Kerrey]

As we become more and more a third world nation hopefully we’ll soon be able to compete with China’s prison labor and we might once again start manufacturing things here.

I can see jobs opening up for Americans, especially overseas. I understand that Saudi Arabia is out scouting for potential laborers to work as maids, drivers and household servants as their Pacific Islands labor market is becoming too expensive.

[MNJohnnie]

Try reading posts 46, 98 and 119 and learning something about the Economy for a change.

[Travis McGee]

"And there is an element of comedy in seeing the United States going to Beijing to borrow dollars, thus putting our children deeper in debt, to send still more foreign aid to African despots who routinely vote the Chinese line at the United Nations."

Pat nails it.

[dragnet2]

Bookmark