2007-10-01 12:48:33.6722+00 by Dan Lyke 3 comments
$.89AUS to $1US. The good news is another few weeks of this and China will be coming to us for cheap labor... except for all of that money we owe them.
Anyone remember when the U.S. wasn't running a monster deficit and spending itself into oblivion?
[ related topics: Current Events Currency ]
comments in ascending chronological order (reverse):
#Comment Re: made: 2007-10-01 15:29:40.755351+00 by: jeff
I've been stating for at least several years that this administration (and its associated bedfellows and cronies) are doing more harm to OUR national interests than any group in the history of our country. The effects will be severe and long-lasting. Sad, but all so true.
#Comment Re: made: 2007-10-01 16:01:54.088268+00 by: ziffle
I remember when Nixon cut the dollar loose from Gold. That allowed him to spend spend spend by printing money and thats why we now owe 10 Trillion dollars.
Fractional Reserve Banking is part of the problem.
http://www.house.gov/paul/congrec/congrec2006/cr021506.htm
http://www.polyconomics.com/searchbase/01-08-99.html
http://www.fee.org/publications/the-freeman/article.asp?aid=1500
A great site: http://itulip.com
I attended a seminar a few years ago where we studied this book - the future is scary folks.
http://www.amazon.com/Dollar-C...Consequences-Cures/dp/0470821027
#Comment Re: made: 2007-10-01 16:56:42.200217+00 by: meuon
On the other side, we are an insanely rich and prosperous nation that can afford a disposable commodity lifestyle. Today. Tomorrow is a different story.
I'm not sure if there is much blood left, but we still need to stop the bleeding.