Obama's peace shattered as dollar takes a pounding

WA Today (Western Australia) ^ | October 12, 2009 | Peter Hartcher

[HiTech RedNeck]

Just wait!

[myknowledge]

Another undeserved award!

[dr_lew]

The euro drifted steadily high against the dollar, almost to $1.60 in summer '08, and then bottomed out at $1.25 early this year. Now it's back up to $1.48, so it doesn't look good the way it's trending, but it hasn't broken new ground as yet.

[uncitizen]

Do you think that BO expected to win the NP for Economics?

[Proud_USA_Republican]

Lobbyists and the democrat leaders played this socialist fool like a frickin violin.
Trillions in new pork and destroying the US dollar too. It was like their wet dream power grab.

[Proud_USA_Republican]

They got it warmed up. They’ll award it to him when he’s made sure oil is traded in chinese yuan and russian rubles.

[element92]

part of the problem with the dollar
is that interest rates are near zero, with that said.

Bush policies are the problem, not President Peaceful’s.

2 wars that Bush did not end.
Bush dereliction of duty —> the sub-prime mortgage disaster.
Bush dereliction of duty —> other Wall Street disasters
.................................

if Bush did anything to help out during the
4 buck gasoline era, please enlighten me.

[snowsislander]

The national debt is projected to hit 85 per cent of the value of the total US economy in 10 years from now.

Our total public debt is at $11,927,435,900,948.90 as of October 6, 2009, and our most recent annualized GDP number was 14.152 trillion dollars, so that ratio is already 84% today.

Worse, the total public debt has shot up an incredible $1,300,558,852,035.82 in the 9 months since the Kenyan Clown's inauguration --- and almost all of that increase has been in the debt held by the public (intragovernmental holdings have "only" grown by $100 billion.) At that pace, and assuming that GDP continues its current movements (edging down, for the most part), then the total public debt will be larger than the GDP before the end of 2011.

[screaminsunshine]

I am glad I bought a bunch of old silver US half dollars a while back.

[Spartan79]

Obama's political enemies, such as Sarah Palin, are using the dollar's distress against him. But serious people are troubled. ...

And the party of Sarah Palin and George Bush, of course, was responsible for the deterioration in the US budget over the preceding eight years.

My, my! Two gratuitous digs at Palin in the article. Palin Derangement Syndrom extends across the Pacific to far off Sydney and Peter Hartcher.

[myknowledge]

The United States is in Deep Doodoo!

[allmost]

if Bush did anything to help out during the 4 buck gasoline era, please enlighten me.

You seem to imply that Bush was dictating the economic policy. If you check the Constitution, for what it's worth these days, it puts most of that on Congress. Crude prices doubled in approximately a year after the 2007 dem take over. Bush was for projects like ANWAR, etc. GWB did a lot of things I couldn't stand but blaming that on him is false.

The subprime mess was created by congress. The term 'subprime' itself means less qualified borrowers. Congress mandated that these borrowers be accomodated through the Community Reinvestment act and similar such measures.

The Wall Street mess is part his fault though. At this point it's more like him turning on a spigot and obama taking a sledgehammer to the pipe.

[DeaconRed]

BO=NO BELL WINNER

[Ann Archy]

He’s bringing about CHAOS in order to put SOCILAISM in!!

[myknowledge]

Why would it be like herding cats?

The U.S. dollar, Canadian dollar and Mexican peso would be invalid from Day 1 of the NAU’s existence.

[element92]

>that Bush was dictating <

not all all, my claim is more like, he was
asleep at the wheel.. or more likely, he went along with what the Dems wanted in exchange for two more years of
occupation of Iraq.

Bush had a Republican Congress for six years,
what am I suppose to believe?......

[element92]

just because I supported the WOT in 2002,
does mot mean that I support a 30 year, 20 Trillion occupation of Afghanistan.

just get out.

[ripley]

Congratulations to all the Independants who elected this bunch of psychotic adolescent punks.

If you all thought you were brilliant when you voted for Democrat slugs, just think of how brilliant you’ll have to be to figure out how to repair what they will damage.

Congratulations to all of you.

/S/

IMHO

[allmost]

That the R's in general lack a spine, isn't arguable. The fiscal and energy policies were being pushed mainly by D's though. There was no legislative super majority for GWB like there is for obama. If you want to stick with petroleum for a minute here's a chart showing the result of the 2007 dem takeover for example. In response to the $4 gas.

[allmost]

just get out.

What would the result of that be in your opinion. Security-wise here in the States.