In other words: A discussion of The Bush Administration
Below I talked about the importance of faith in keeping the US dollar strong. Well the Chinese have lost "the faith." Expect interest rates to go up pretty quick in 2005. And people if you have an ARM mortgage... move to fixed rate... as fast as you can.
FT.com / Markets / Currencies - Dollar expected to fall amid China's rumoured sellingThe dollar could slide still further, in spite of hitting an all-time low against the euro last week in the wake of George W. Bush's re-election, currency traders have said.
The dollar sell-off has resumed amid fears among traders that Mr Bush's victory will bring four more years of widening US budget and current account deficits, heightened geopolitical risks and a policy of "benign neglect" of the dollar.
...
Speculative traders in Chicago last week racked up the highest number of long-euro, short-dollar contracts on record. Options traders have reported brisk business in euro calls - contracts to buy the euro at a pre-determined rate.
However, the market has been rife with rumours that the latest wave of selling has been led by foreign governments seeking to cut their exposure to US assets.
India and Russia have reportedly been selling US assets, as well as petrodollar-rich Middle Eastern investors.
China, which has $515bn of reserves, was also said to be selling dollars and buying Asian currencies in readiness to switch the renminbi's dollar peg to a basket arrangement, something Chinese officials have increasingly hinted at. Any re-allocation could push the dollar sharply lower and Treasury yields markedly higher.
- rob 5:37 PM - [PermaLink] -
----
TCS Now offers a News Reader Feed
Subscribe to the TCS Feed
Having trouble with some of the poor English
on this site?
Imagine what it looks like when translated by a machine:
This is a "team" blog. We are a bunch of
Americans, whose rising distress
in our leader's decisions brought us together to make this site.
As Bush said, he's a "uniter." Many of us have never even met.
That's the internet for you.
Buy our cool stuff.
And tell everyone what you feel.
We have a little Store
you can visit.
Our store's selection of items is constantly growing. Come
see what we have.
We're also Amazon Associates, so if you want to buy something from Amazon, please search for it below, and we will get a few bucks from the sale.
Static Sky
Tin Foil Caps
The Free Speech Zone
The office of the independent blogger
Buzzflash
Tom The Dancing Bug
VerifiedVoting.org
Get Your War
On
This Modern World
Eschaton / Atrios
Daily Kos
meowpurrmeow
Contribute to America's Future
It is now more important then ever.
Donate to the Democractic Congressional Campaign Committee
Donate to the Democratic Senatorial Campaign Committee
Some More Site Mottos
"To announce that there must be no criticism of the
president, or that we are to stand by the president, right or wrong, is
not only unpatriotic and servile, but is morally treasonable to the
American people."
- Teddy Roosevelt
"Government has a final responsibility for the well-being of
its citizenship. If private cooperative endeavor fails to provide work
for willing hands and relief for the unfortunate, those suffering
hardship from no fault of their own have a right to call upon the
Government for aid; and a government worthy of its name must make
fitting response."
- Franklin Delano Roosevelt
"I am not an advocate for frequent changes in laws and Constitutions, but laws must and institutions must go hand in hand with the progress of the human mind. As that becomes more developed, more enlightened, as new discoveries are made, new truths discovered and manners and opinions change, with the change of circumstances, institutions must advance also to keep pace with the times. We might as well require a man to wear still the coat which fitted him when a boy as civilized society to remain ever under the regimen of their barbarous ancestors."
- Thomas Jefferson
"The means of defense against foreign danger historically have become the instruments of tyranny at home."
"All men having power ought to be distrusted to a certain
degree."
- James Madison
"I believe in human dignity as the source of national purpose, in human liberty as the source of national action, in the human heart as the source of national compassion, and in the human mind as the source of our invention and our ideas. It is, I believe, the faith in our fellow citizens as individuals and as people that lies at the heart of the liberal faith. For liberalism is not so much a party creed or set of fixed platform promises as it is an attitude of mind and heart, a faith in man's ability through the experiences of his reason and judgment to increase for himself and his fellow men the amount of justice and freedom and brotherhood which all human life deserves."
- John F. Kennedy
"Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history. There is a tiny splinter group, of course, that believes you can do these things. Among them are [a] few other Texas oil millionaires, and an occasional politician or business man from other areas. Their number is negligible and they are stupid."
- Dwight D. Eisenhower
more coming...
