Dollar Falls On Fears of U.S. Deficits (WP)

[Domitan]

http://www.washingtonpost.com/ac2/wp-dyn/A26581-2004Nov4?language=printer

The dollar continued its decline in global currency markets yesterday, intensifying worries among some economists that mounting U.S. budget and trade deficits could send the U.S. currency into a tailspin.

President Bush's news conference yesterday did little to lessen concerns over the deficits, Wall Street analysts and currency traders said. Bush simultaneously promised not to raise taxes under the guise of tax simplification, to pursue a costly restructuring of Social Security and to cut the budget deficit in half by 2009.

The currency markets aren't buying it, said William G. Gale, an economist at the Brookings Institution.

White House officials "have Alan Greenspan to help keep interest rates down, but they can't control the foreign exchange markets," Gale said. "I think investors are acting appropriately."

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THIS IS BUSH'S ACHILLES' HEEL, and it's coming FAST!

[Don Claybrook]

1. He apparently has no achilles heel

He has "morals and values" and the people just lap it up. This is just #458 in a series of stories guaranteed to bring Bush down. Maybe #459 will work.

[Domitan]

2. He may not recognize his own weaknesses

but if the American economy is seriously depreciated, people will think less of "moral values". Think of Maslow's pyramid of needs. When food and security are not there, so-called "moral values" are less relevant.

[Don Claybrook]

4. Does Maslow apply to fundies?

Maybe you're right, we'll see, we'll see.

[DBoon]

8. No but Darwin will

Those who care more for "Jesus" than getting enough to eat will eliminate themselves from the gene pool.

Cruel, but very republican. They deserve it.

[jhain]

9. Hence, O'Reilly, Cheney. Limbaugh

The "base" *IS* insecure enough to have lost its values.
They were scared enough times to believe these people will keep them 'safe' - who cares about the actual morals of the 'Leaders'?

gag me. ( again)

[Skidmore]

10. Sociopaths never recognize their own weaknesses.

In fact, to a sociopath, every problem or difficulty they experience in life is someone else's fault.

[progressiveBadger]

16. Seems that way sometimes huh?

But I'll keep hoping it's this time, and if not, then the next time. He WILL go down.

[Frederic Bastiat]

3. Up up goes the Canadian dollar

Woo hoo! Viva le peso del Norte!

[The Backlash Cometh]

5. They can't control the foreign exchange markets.

That's Bush's achilles heel.

[Art_from_Ark]

15. Heck, they WANTED a weak dollar!

Sells more exports, dontcha know?

The problem is, what has the US got, besides weapons, to export?

[KitSileya]

6. If it weren't so sad, I could laugh.

With oil prices rising, making the Norwegian krone stronger and stronger, and the dollar falling - now would be an excellent time for me to visit my friends in the US.

Unfortunately, I'm probably on the no-fly list.

Oh well, considering how devastated the American economy will be by next summer, my friends will probably have to cancel their vacations to keep their jobs. Anyone feel like the aftermath of 1929?

[DBoon]

21. Remember to bring some small gifts

Food, medications, etc. for your impoverished American hosts.

Remember you will be visiting a third world country.

[skooooo]

7. This is God's will....

Because the country continues to go in the wrong direction, things will get worse and worse. I'd be more worried if this wasn't happening.

[jpak]

11. Not to worry

If you become destitute because of the Chimp's idiotic fiscal policies - you can always find a nice Christian family to take you in...

Praise the Lord!!!!!!

[jhain]

12. spewing the coffee here n/t

[kittenpants]

13. brilliant!

[Tight_rope]

14. LOL...yes...we will all become beggers!

[DBoon]

20. Not funny

There are too damn many people living in cardboard boxes already.

I walk past them everyday en route to work.

[ILeft]

22. ...or enroll in a community college...............eom

nt

[thecrow]

17. Taylor and China

"Taylor pointed out that the Treasury is also prodding foreign governments to achieve faster economic growth, which should increase demand for U.S. exports, and it is trying to persuade China to change its fixed-exchange rate policy by allowing its currency, the yuan, to rise. A higher yuan would be likely to slow the flood of Chinese goods into the U.S. market because those products would become more expensive for U.S. consumers."


Oh yeah right sure... I'm sure that China will wan to do that.
Pfft

[FlyByNight]

18. Down the slippery slope

Well, Bush-voting red-staters, you got your wish. Have fun finding a job when you've been laid-off/outsourced.

[daleo]

19. This will provide cover for the gutting of social security

That is the only source of money that the Republicans will be willing to go after. As their pension checks evaporate, people can be consoled that the ten commandments are on the courthouse wall, though.