OT - does anybody else think GWB looks like he had one drink too many in his interview today? Talk about looking a just a LITTLE sloppy and out of it.
MNPundit
· 11 months ago
A weaker dollar is actually a more positive development.
smiling_dog
· 11 months ago
Sadly, I believe this is only the beginning. Just a month ago, we threw away a quarter of a trillion dollars under the guise of a "bailout". The last act of scoundrels is to loot the treasury.
Anon
· 11 months ago
There are few reasons left to hold US$ now. Look for the exchange rate to plunge and oil to be priced in Euros in the near future. When the Great Garage Sale of US corporate assets is concluded in 18 mos. - 2 years time, there won't be much paid employment left aside from retail and services employment, government employment,and financial services. I cannot believe that an imperial country could go down so fast without some sort of coherent response. It took Rome hundreds of years to fully liquidate: this could be done in 5 years. I have clearly underestimated the dumbness of American officialdom.
Webster
· 11 months ago
OT: Paul Weyrich is dead.
I can only echo Bette Davis when told of the death of Joan Crawford:
"My mother told me to only say good things about the dead. She's dead. Good."
leo
· 11 months ago
Actually this might be a good thing. It makes our products (I mean what's left of them) cheaper in foreign countries. At the same time, it makes foreign products more expensive here. Balance of Trade, and all that.
That's why, for years, the Chinese have kept their own currently low while propping up the yankee dollar.
Maybe we can start making stuff here again.
ted s
· 11 months ago
Change.gov is FULL of sick, twisted bigotry and it doesn't get deleted. One example: Don't compare my skin to your sin. That's what passes as legitimate debate at Obama's site. That tells me pretty much everything I need to know about Obama and his bestest new buddy Rick. Obama and much of his organization tolerate and even embrace rank bigotry.
Oh brother
· 11 months ago
So what are the alarm bells here? Basic economics -- you lower your interest rate to effectively zero, you currency goes down big time. Where's the surprise? I'm not getting it. Is it terrible? Not in and of itself. Europe is not skating along wonderfully, and will probably follow with it's own rate cut, thus moderating the currency move to some extent. But anyone looking at forex expectations would have known this. May put off that vacation to Europe, but other than that, volatility will be the name of the game for some time to come.
Bush Bites
· 11 months ago
The Big Lie has been exposed, showing Greenspan and the Supply Sider to be the frauds they always were.
You can't spur economic growth with rate cuts alone.
It takes a Keynesian infusion of capital.
Indigo
· 11 months ago
No fear. All is well. Obama is riding to the rescue . . . unless you're gay.
All Comments
http://bloggerinterrupted.com/2008/12/the-other...
I can only echo Bette Davis when told of the death of Joan Crawford:
"My mother told me to only say good things about the dead. She's dead. Good."
That's why, for years, the Chinese have kept their own currently low while propping up the yankee dollar.
Maybe we can start making stuff here again.
You can't spur economic growth with rate cuts alone.
It takes a Keynesian infusion of capital.