Skip to comments.While You Were Sleeping, The Dollar Continued To Get Crushed
Posted on 10/01/2010 4:29:39 AM PDT by blam
While You Were Sleeping, The Dollar Continued To Get Crushed
Oct. 1, 2010, 5:36 AM
Or to put it another way, the US gained ground in the global competitive currency devaluation war.
(Excerpt) Read more at businessinsider.com ...
Headline should also read “While you were sleeping, George Soros made alot of money”....Obama and the Demonrats have executed the Cloward Pivens strategy to perfection so far....can the November elections derail the runaway train?.....God help us.
“it could make Boeing hyper-competitive in the airliner market”
But, methinks that the world commies won’t buy Boeing just because it’s American.
Oil, gas, winter fuel oil, diesel, every thing imported, all cloths, shoes, cars, auto parts to go up 15%.
Rich foreigners don’t like to loan a trillion a year at near zero and get back funny money. So, yet more pressure for the inevitable interest rate hikes.
So, basically, we’ll be poorer. It hard to get richer at 1-3 percent growth rate when basics are increasing at 15 percent.
The good news is that housing nation wide is following the Buffalo/Detroit model. So, young people with out decent jobs, and who can’t afford children, will have a place to burn moldings and furniture to crash in.
Repubicrats and the Federal Reserve and paper money, oh yeah!
Gold’s looking like a good buy then.
A weak dollar is actually bad news for countries that hold our debt. Our debt is in dollars, so every time the dollar drops in value they loose money. China isn’t happy about it, so they’re threatening not to lend us any more money. It would hurt in the short run, but it might force the US Government to live within its means for awhile.
And, if the needed money is in the till, so what, we got the loan.
The price of all stuff is going to rise. We have been living in a dream world of super low prices or a long time and that time is ending.
I think it's probably too late.
Obama realized if he wanted to destroy America he had to do it quickly. It's already been done - I suspect that things are MUCH worse than we even realize, but O and his minions with the help of Soros are propping everything up until such time that they just pull the plug and watch it go down the drain.
If the elections go our way in Nov., he just might pull the plug and disappear to some hideaway to watch the destruction from afar.
Likely deliberate as part of this game of trade chicken we appear to be playing with the ChiComs. And for long-term debt monetization.
But Obama said we are on the right track. /s
Nope, Fed policy is driving this massive devaluation. The Fed is "independent", so there's no stopping them.