Wednesday, November 17, 2004

Economic Depressions Are Not Funny: Dollar Continues Collapse

The Dollar falls again - today. Actually, it falls every day, but it looks like the action is picking up a bit. John Snow (some guy, works for Bush, I think they're called "cronies" now) issued another statement saying blah blah, and funny thing is that "because we say it is therefore true" stuff only works on Americans NOT thinking reasoning Europeans/Canadians/Asians.

I’ll try and IRAC through this for my law student bloggers given that exams are coming up: The issue is the Dollar and our economy going straight to hell.

The US Dollar is weak. Economic and foreign affairs policies brought courtesy of Republicans, George Bush and Wimp Democrats continue to pressure the currency downward assisted by record deficits thanks to incompetent fiscal management. The US trade and budget deficits are exceeeding a half-trillion dollars per-year respectively, and are approaching levels in relation to US GDP unseen since World War II. Because Republicans make decisions based on faith rather than reason or fact (Satan often tries to use facts and reason to trick people into losing their faith), the elements for a collapsing Dollar and economic meltdown are met.

I know. Lousy IRAC statement, but I haven’t had my coffee this morning and I feel more sardonic than usual.

Low and behold the truth comes at last to currency traders who now, slowly, are openly admitting that the Dollar’s collapse (and it is a collapse my friend – a real one, get your money OUT of here - now) is not only rooted in economic facts, but geopolitical ones as well i.e. we suck, we’re hated and everyone hopes/wishes we would just die. They're not going to buy Dollars every minute of the day anymore, especially when we keep throwing money down rat holes. America has been nuts for sometime, and became legally certified last November 2nd.

Naming Condi Rice didn’t fetch the same kind of headlines in the rest of the world as it did here, but Americans don’t get out much past Fox News and CNN to see the view from somewhere other than a White House Press Release. If they did, ah hell - they wouldn't believe it, so I guess it wouldn't make a bit of diference.

Still have doubts? KMart is buying Sears, and they're "celebrating" the fact that now Craftsman Tools can be sold along side popular brands like... Martha Stewart! Wow! These are the SAME brilliant minds that manage our economy, so what's not to like!?!


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