Many said this would not happen, well, here it is, the devaluing of the dollar on a scale which could bring a major recession...just in time for the Dems to claim it is Bush's fault!
If you like the Euro, just wait until the Amero replaces the dollar.
Oh the joy of using cr@ppy currency with pics of Mexican Revolution heroes and Canadian moose.
Last time I checked our economy has been creating jobs, low inflation, low interest rates, and an increasing stock market. If this a bad economy, I can't wait for it to turn around.
And just how would that bring on a recession?
I watched in the early nineties as the Canadian dollar plummeted in value against the American dollar. But instead of hurting the Canadian economy, it hurt ours.
It became too expensive for Canadians to cross the border and shop in the U.S. so they began to buy their stuff in their own country. Retail development exploded in Canada during the decade.
To the point that now, when the Canadian currency has risen substantially, they still shop over there -- it's just more convenient for them. I fail to see why a dropping dollar wouldn't have the same effect here.
For some people, it's always 1929.
Thanks for the post/ping. Interesting discussion. Bump!