news.yahoo.com — We are in a world of trouble and only one candidate for President is even ta liking about it. The plummet of the dollar is not going to stop any time soon. The Chinese are sitting on too many dollars to divest; they would lose too much. The Europeans are taking advantage of the Chinese position, selling off greenbacks, forcing the dollar down faste
Nov 4, 2007 View in Crawl 4
mahdaengNov 5, 2007
He's not suggesting that we stop spending. He's saying we should spend more wisely. By all means, spend, but don't use credit. Pay with cash and buy only what you can afford.I do agree with your "middle road" approach, though.
heroiclifeNov 5, 2007
"The prime suspect in the death of the dollar is the massive trade deficits America has run up,"Buchanan has it backwards. Trade deficits mean American dollars going abroad in exchange for foreign investment. If the foreigners never cashed in those dollars, then Americans would essentially be getting foreign goods for free. This is essentially what has been happening for decades as foreign countries accumulated dollars, and foreign investors invested in American companies.A trade surplus means American goods going out in exchange for foreign goods. A surplus is a form of investing in other countries, since that is where we have to spend that foreign currency.What is happening now is that all those foreign governments are cashing in on the dollars they have been hoarding - so a SURPLUS is what we should be worrying about.The reason that foreign governments are finally cashing in is due to the inflationary policy of the Federal Reserve - due to the growing federal deficit. The dollar no longer suffices as a form of insurance against foreign nation’s own inflationary policies.
geddonNov 6, 2007
Look at the amount of Money the United States is spending on Military compared to the rest of the world and tell me why our Health Care is so expensive, or why the cost of Education is sky rocketing? Greed, mahdaeng, "American greed." We're borrowing more money than we can afford for oil. We're charging more and more for the basic necessities while the majority of workers cannot afford to live. This is greed, mahdaeng, "American greed." And it's crippled Africa, it's crippled South America, and it is currently crippling the Middle East without three quarters of America's consent.
mdraperNov 6, 2007
The good news is I saved a buttload of money on car insurance by switching to Geico!
stephbangmNov 12, 2007
The only thing I don't agree with about the article is at the top where it says "Opinion Pat Buchanan"; It should be "Fact Pat Buchanan".Ron Paul + Pat Buchanan for 2008!
cftfNov 19, 2007
Pretty good story until the very last sentence: "The chickens of free trade are coming home to roost." Those roosting chickens have names like "Empire", "Tax", and "Spend". Not "Free Trade".