crashing US dollar
Damaeus wrote:
>In news:rec.food.cooking, "Rod Speed" > posted on
>Sat, 3 Nov 2007 15:54:20 +1100:
>
>
>
>>Damaeus > wrote:
>>
>>
>>>And you know, it's also interesting that all these stories about Chinese-made
>>>product recalls is coming about as the dollar sinks lower and lower. It almost
>>>sounds like some kind of economic warfare with China...
>>>
>>>
>>Only to those who are a sucker for a mindless conspiracy theory.
>>
>>The real reason is the trillion bucks thats been ****ed against the wall in Iraq.
>>
>>
>
>It's not so much where the money is being spent, but the fact that they're
>just creating the money out of thin air. The government needs money, so
>federal reserve prints the money that's needed and loans it to the
>government and charges them interest on it.
>
>
and such debt is simply being passed onto the next generation. Read
somewhere that GW has been the biggest spender since Lyndon Johnson -
two of the biggest spenders of all times.
Gotta love that GW leadership of spend & borrow.
Then again, all that debt is the major reason for the ever declining US
dollar & consequently the rising price of oil. It'll likely be the
basis for an inflationary period that we should soon be entering.
Oil has only climbed moderately when priced in Euros.
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