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.
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!
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.
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