The Death Of The Dollar ... (Global anti-Americanism is a sign of sophistication)

The Global Guru ^ | Nov 14, 2007 | Nicholas Vardy

[ghostrider]

The crowds are rooting for the United States' collapse on both sides of the pond. Harvard economist Ken Rogoff argues that the subprime mess has irretrievably tarnished the U.S. image as a global financial center. A few weeks ago, I attended a seminar on "Why the World Hates America" at London's annual "Battle of Ideas." There, everyone with a North American accent was quick to point out that they were Canadian lest they had to endure the shame of being American. Political scientist Andrei Markovits argues that anti-Americanism is the new anti-Semitism. Except anti-Americanism is not a sign of prejudice: it's now a sign of sophistication.

Yes, it is true that the United States in a sick mess, but it is certainly no worse than those putrid EuroPussies, who have long since been conquered by the dark forces of tyranny. The beast burped, and they ran in terror back to the security of their shameful roots in Peonism. At least there is still a large number of Americans, with roots solidly anchored in a proud fierce heritage, that are willing to stand and fight the Globalist plague of conformity and tyranny. It is not so certain that the Global plague will find victory in America. The United States is still the last great hope for the human race, and it is crap like this article flowing from the wretched cesspool of Europe that gets my dander up and makes me yearn for the day when the country will reunite and show the EuroPussies that they are simply attacking a sleeping giant, who will once again kick their pusillanimous asses.

[Ancient Drive]

I love your post. These euroweenies have not realized we have come to their rescue every time they step in it.

[tx_eggman]

But like the presidential candidacy of my Harvard classmate Barack Obama

Cripes. Name drop much?

You left of the money shot of the quote.

But like the presidential candidacy of my Harvard classmate Barack Obama, the talk about the demise of the United States is more about wishful thinking than what is really there.

Seems to me he has Hussein O's candidacy pegged pretty well ...

[Smogger]

The dollar is worthless. So send all of yours to me.

[Free Vulcan]

Currency fluctuations act like a pendulum to correct excesses between two economies and bring them back to parity. Until we started running huge deficits and propped the dollar to keep foreigners financing them, that is. Now that that’s no longer sustainable, it’s like water behind a dam being let loose with it’s far more dire consequences than if the financial river had been left to flow free.

[Red Badger]

Low dollar, high exports. High Euro, low exports...........

[Bowtie52]

What is the story on the "Amero"? This is supposed to be the coin of America, Canada ∧ Mexico

[steve8714]

Read the tagline.

[Dutchguy]

Although there are voices that do spread the gospel of anti-Americanism, it’s by no means the majority in the news or editorials I read (and I read quite a lot of it).. It’s mostlty found in the more left-leaning media, which are a minority, and they’re losing ground in most European countries as well currently.

[The Duke]

The U.S. dollar -- and the United States itself -- is as hated as it has ever been in recent memory.

I value little the opinions of those who allow themselves to be ruled by any emotion.

[TexanToTheCore]

“The U.S. dollar — and the United States itself — is as hated as it has ever been in recent memory.”

Snort...people with short memories are bound to repeat stupid columns. Anyone remember “Yanqui go Home”?

[Billthedrill]

I love this. I strongly encourage people to make financial decisions based on ideology, political fantasy, and wishful thinking. The technical term for such people is "suckers." Their money tends to end up in the pockets of people who don't.

The notion that a "weaker" U.S. dollar is the world's judgment on anything but the U.S. economy is probably true, and it points up just how many suckers there are. Smart money flows to where it grows.

[steel_resolve]

I think what the story was was that Giselle takes her coke in Columbian, not American.

[rbbeachkid]

I shake my head. The press cries that the sky is falling (either the dollar is too strong or it is too week, the trade deficit is too large or not large enough) and because people read the sensational headlines without the economic education to evaluate the whole picture, we run around like Chicken Little. I enjoyed the analysis that was in this article. There are always positives and negatives to these fluctuations but you hear only the hysteria and then it is repeated over and over and we are sure that the world is coming to an end.

[Centurion2000]

bump

[kcar]

When the dollar weakens, imports become more expensive. Things like oil and gas, and everything that uses oil and gas, such as agriculture. It means you’re being paid less in a theoretically-world-currency-basket paycheck. How can that be good? Moreover, since your government sponsored the decline in value by their profligate ways, it’s like a hidden tax that they blame on evil speculators or slanty-eyed competitors.

[IrishMike]

from the article .....

Nor is a weak dollar all bad news. A weaker currency provides a boost to the U.S. economy, making U.S. exports more attractive at a time when consumer spending is slowing down and the housing market is a drag on growth. Thanks to a weaker dollar, growth in U.S. exports is already shrinking America’s external deficit. During the past three quarters the deficit has been cut by $119 billion, falling from about 6% of gross domestic product to 5%. The adjustment appears to be continuing as the U.S. trade deficit narrowed by a stronger-than-expected $56.4 billion in September. The federal budget deficit has also come down sharply to 1.2% of GDP, well below its historical average.

[Jim Noble]

The United States of America is not the government of the world.

The insane policy of "globalization" of production and labor will inexorably have one of two political consequences, both bad:

Either a planetary government will arise to supervise and regulate the so-called "world economy", including our previously free states, or the US will have to field a military sufficiently powerful to dominate the planet.

[IrishMike]

Smart money flows to where it grows.
...........................................
Follow the money, a past and time proven philosophy.

[IrishMike]

It’s mostlty found in the more left-leaning media, which are a minority, and they’re losing ground in most European countries as well currently.
........................................................
Recent elections (with 06 in the US being the exception - unfortunately) in European countries, Canada, Australia have shown this to be indeed true.