Posted on 09/09/2009 5:08:30 PM PDT by Kaslin
Economy: The dollar is weakening, gold is hitting new highs and some foreign officials now want an alternative to the U.S. currency. If you're looking for a market verdict on U.S. economic policy, look no further.
That said, since the advent of the new administration last November, the trade-weighted dollar has fallen 7%, while gold in recent days has risen above $1,000 an ounce — a record level.
The two are sending a clear message: Investors are worried about what they see in the U.S. and are parking their money in nondollar foreign assets and gold. When nonproductive assets are more valuable than land, factories and labor, something's amiss.
The World Economic Forum recently pushed the U.S. out of its top perch as the world's most competitive economy, to No. 2. Not a big drop, of course. Still, why did the WEF lower our ranking at all?
Because of "concerns on the part of the business community about the government's ability to maintain arm's-length relationships with the private sector and in the perception that the government spends its resources wastefully."
This won't change soon. Congress has now heard testimony that it's unlikely the government will recoup much if anything from the auto bailout. And it's hard to say what was gained from the $787 billion "stimulus," given that less than $100 billion has been spent.
(Excerpt) Read more at ibdeditorials.com ...
The Federal Government is committing treason. There’s really no other way to put it.
I heard that they delayed most of the stimulus money until next year since that is an election year.
Anyone know if that is true? If so, the libs are even more cynical and scheming than I gave them credit for.
Relatively little stimulus money has been spent. Obama has a huge taxpayer-provided election slush fund, and will use it as such.
If I may modify your statement ever so slightly to reflect the actual goings on...
The traitors within the federal government are committing
treason upon the people of the United States.
There, fixed it...
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