Friday, November 19, 2004
Dollar Dump Accelerates
This from Kos via the Financial Times:
"The US currency came under renewed selling pressure the moment it became clear George W. Bush had been re-elected president. In the two and a half weeks since then, the alue of the dollar has fallen 2.5 percent against the euro and 1.9 percent against the yen. The falls represent an acceleration of the dollar's steady decline since 2002. Since the start of that year, the greenback has fallen 32 percent against the euro and 21 percent against the yen. . . .
Darek Halpenny, currency analyst at Bank of Tokyo-Mitsubishi, points to a "very grim" outlook for the dollar in the near term. "With the foreign exchange market now focused entirely on the problem of the US budget deficit and current account deficits, there is a real risk that dollar selling becomes a crisis of confidence," he says. . . .
There is a fear in the currency markets that the dollar's decline, which has been gradual and orderly so far, will turn into a rout."
Ah, the fiscal discipline of the Bush Administration. When will the dunderheads that voted for this mess, get it through their heads that these people do not give a shit about them? They are starving the federal government and compiling debt that will saddle us all for generations. Now the dolts, just bumped up the debt ceiling, further increasing the federal debt. Now don't you feel secure when the bulk of our debt and our trade deficits is owned by the Chinese and Japanese governments? To the Bushies who may be reading this: Fuck You!!! You have traded our economic security for what? You have traded our national security for some fleeting experiment in "Democracy." To all those who fell for the scam that is called the George "Willful Ignorance of The World" Bush campaign of making our country more secure, welcome to hell!!! The future is not pretty and you will be paying for it. We have a mid-term election coming in 2006, let's vote the Republican Bastards out. We need to save our country and that is the only way we can do it.
"The US currency came under renewed selling pressure the moment it became clear George W. Bush had been re-elected president. In the two and a half weeks since then, the alue of the dollar has fallen 2.5 percent against the euro and 1.9 percent against the yen. The falls represent an acceleration of the dollar's steady decline since 2002. Since the start of that year, the greenback has fallen 32 percent against the euro and 21 percent against the yen. . . .
Darek Halpenny, currency analyst at Bank of Tokyo-Mitsubishi, points to a "very grim" outlook for the dollar in the near term. "With the foreign exchange market now focused entirely on the problem of the US budget deficit and current account deficits, there is a real risk that dollar selling becomes a crisis of confidence," he says. . . .
There is a fear in the currency markets that the dollar's decline, which has been gradual and orderly so far, will turn into a rout."
Ah, the fiscal discipline of the Bush Administration. When will the dunderheads that voted for this mess, get it through their heads that these people do not give a shit about them? They are starving the federal government and compiling debt that will saddle us all for generations. Now the dolts, just bumped up the debt ceiling, further increasing the federal debt. Now don't you feel secure when the bulk of our debt and our trade deficits is owned by the Chinese and Japanese governments? To the Bushies who may be reading this: Fuck You!!! You have traded our economic security for what? You have traded our national security for some fleeting experiment in "Democracy." To all those who fell for the scam that is called the George "Willful Ignorance of The World" Bush campaign of making our country more secure, welcome to hell!!! The future is not pretty and you will be paying for it. We have a mid-term election coming in 2006, let's vote the Republican Bastards out. We need to save our country and that is the only way we can do it.
