Dollar Hits 15-Year Low

Financial Times   |  Peter Garnham   |   September 11, 2007 08:48 AM


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The dollar fell to a fresh 15-year low against a basket of currencies on Tuesday as the currency continued to suffer from the prospect of a cut in US interest rates.

Expectations that the Federal Reserve would move to lower interest rates at its meeting on September 18 have increased since last week's US employment report, which showed the recent turmoil in the credit markets had spilled over into the wider economy.

"The dollar remains undermined by the increasing prospect of monetary easing by the Federal Reserve as it attempts to forestall the US economy from slipping into recession," said Derek Halpenny at Bank of Tokyo-Mitsubishi UFJ.

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- totalliberal See Profile I'm a Fan of totalliberal permalink

["This is all part of one world globalist paradigm. To consolidate the North American countries under one financial currency, the Amero"]





This of course presupposes that the Canadians want to have anything to do with the losers Bush has turned us into.

Not fucking likely.

    Favorite    Flag as abusive Posted 12:11 AM on 09/12/2007
- Gary47 See Profile I'm a Fan of Gary47 permalink

Thanks George for trying to ruin our country in so many ways.

    Favorite    Flag as abusive Posted 11:33 PM on 09/11/2007
- jinjinpinti See Profile I'm a Fan of jinjinpinti permalink

Glad I got a paid for house, no debt, huge garden, cellar full of home canned foods, shed full of good seasoned hardwood, neighbors who barter, a trusty old shotgun and live where my son and grandsons can fish and harvest seafood and wild food forever...and one damn good recipe for roadkill stew.

    Favorite    Flag as abusive Posted 05:39 PM on 09/11/2007
- JackMehoffer See Profile I'm a Fan of JackMehoffer permalink

Glad Im about 90% of assets in Canadian dollars, backed by 5 million barrels per day oil production by 2020.

    Favorite    Flag as abusive Posted 04:52 PM on 09/11/2007
- RichardD See Profile I'm a Fan of RichardD permalink

Fear, and greed, and the end of the rainbow.

Ho hum.

    Favorite    Flag as abusive Posted 04:32 PM on 09/11/2007
- godlessclif See Profile I'm a Fan of godlessclif permalink

The DOW is still under 10,000 in Euros. That is lower than it was when Bush took office. This whole rally is all inflation and no substance.

2000 DOW = $10,000 = 11,700 Euros.

2007 DOW = $13,300 = 9708 Euros

    Favorite    Flag as abusive Posted 04:04 PM on 09/11/2007
- StoptheNazis See Profile I'm a Fan of StoptheNazis permalink

Most Americans live from Paycheck to Paycheck and pardon the expression are 'nigger rich' because its all plastic money.

A Nation of Idiots..........Dangerous ones!!

    Favorite    Flag as abusive Posted 03:27 PM on 09/11/2007
- jinjinpinti See Profile I'm a Fan of jinjinpinti permalink

No. We will NOT pardon the expression, and you better hope we don't go down, because you and good old europe won't be far behind.

    Favorite    Flag as abusive Posted 05:29 PM on 09/11/2007
- godlessclif See Profile I'm a Fan of godlessclif permalink

Check your woodpile?

    Favorite    Flag as abusive Posted 03:57 PM on 09/11/2007
- rextrek See Profile I'm a Fan of rextrek permalink

Meanwhile America continues to borrow $$$ for Bush's war....$$12Billion + a month, and for how long? Borrowed money from China......

    Favorite    Flag as abusive Posted 03:03 PM on 09/11/2007
- RandyRanson See Profile I'm a Fan of RandyRanson permalink

After the Big Brass Military get paid their ransom on the American Taxpayers, and the other bills due start coming in, with the incredibly high debt deficit payments, hitting the House floor, the United States, will be nearly impoverished, hiding the fact from the world.

The trouble is, the world has continued on in being able to trade and have healthy markets and market forces of their own, and the US has slipped into losing the hold and control over market activities, that it used to have.

The end result is that under George W. Bush and his Republican Administration, the US has lost its footing, and is in a perilous free fall. It will take generations and generations to ever get back to where the US stood just 6 years ago. The damage George WE. Bush's reign have caused will take its toll, soon enough, but he'll be out of office by then, or maybe, because of the speed of transactions, it may happen sooner than later. Prompting and provoking him to bomb Iran, with the expectation, that if he involves the world in a huge war, the economic problem the US is in, won't be noticed, and might go away.

President Bush is insane enough to destroy the world to protect his legacy, which is no more than protecting his overblown ego.

    Favorite    Flag as abusive Posted 03:00 PM on 09/11/2007
- winningticket See Profile I'm a Fan of winningticket permalink

This is economic treason. The US is under the rule of a corrupt Weimar Republican administration that won't stand by it's own currency. The Dollar has nearly lost a third to nearly a half of it's value against the Euro and the British Pound. The Canadian Dollar which traded at 1.60 per US Dollar is now almost at parity. Yet the Federal Reserve wants to slash interest rates which will only make the Dollar less attractive, and spur on hyperinflation. It's insanity. America, you will be carrying your dollars in wheelbarrows just to buy a loaf of bread. But what the hey America: you wanted it!

    Favorite    Flag as abusive Posted 02:46 PM on 09/11/2007
- lynt See Profile I'm a Fan of lynt permalink

Don't we all want to see this country go bankrupt?
Then if the people are so broke they will be willing to work for 2 cents a day, then all the jobs from china will move here. Then the government will tell us how they have increased the job market,.... all is well!

    Favorite    Flag as abusive Posted 02:21 PM on 09/11/2007
- beaver See Profile I'm a Fan of beaver permalink

I like how the article tries to lay blame for this economic mess on rising petrol prices. Not one word about sub prime voodoo economics,trickle down bullshit...nary a whisper about off-shoring jobs,outsourcing, garage-saleing our assests, or corporate corruption, etc. etc. Where'd you lift this neocon article from, Little Green Slimeballs?

After 30 years of neoconservative politics/economics, including wet willy's corporate whoring and Alan Greenspan's legalized thievery we're left with a very bleak decade ahead, and our children's lifetime of endless low quality servitude. You'd have thought one of these "intelligent" experts would've said something about 6 years of wars...financed on a credit card! I'm going to enjoy watching the fatcats try to live like I have to.

    Favorite    Flag as abusive Posted 01:59 PM on 09/11/2007
- fantagor See Profile I'm a Fan of fantagor permalink

For the bevy of trolls, sorry to break it to you, but the crumbling dollar IS BUSH'S FAULT.

Go crunch the numbers, from March 19, 2003 to today and you'll observe that the dollar's downfall is traceable to the Iraq war, which is Bush's abomination, ergo the US dollar being in the shitter IS BUSH'S FAULT.

Don't believe it? Then why does a Canadian dollar cost, as of Sept. 11, 2007, $0.94969 US dollars????

On March 19, 2003, a Canadian dollar was just $0.66 US dollars. As the Iraq war trudged on and Bush piled on the debt, the dollar got weaker and weaker and weaker.

ALL BUSH'S FAULT. Or, if you prefer, BUSH AND THE REPUBLICAN PARTY'S FAULT.

70% of the US debt was created under the last THREE REPUBLICAN PRESIDENTS, ALMOST HALF OF IT UNDER THIS ONE.

How in the hell did "fiscal responsibility" and "Republican" ever become synonymous???

Randy

    Favorite    Flag as abusive Posted 01:19 PM on 09/11/2007
- fact finder See Profile I'm a Fan of fact finder permalink

BenBernanke, There are none so blind as those who will not see, Except those who will not let others see.

    Favorite    Flag as abusive Posted 01:02 PM on 09/11/2007
- mrcontinental See Profile I'm a Fan of mrcontinental permalink

Should we feel sorry for them? After all they have been willing participants in this mess. They gave the neo-cons free reign.

    Favorite    Flag as abusive Posted 04:17 PM on 09/11/2007
- BenBernanke See Profile I'm a Fan of BenBernanke permalink

I "see" what you mean...

    Favorite    Flag as abusive Posted 01:25 PM on 09/11/2007
- BenBernanke See Profile I'm a Fan of BenBernanke permalink



----------------------------------------------------------
MUST READ for anyone with a bit of bus experience or education
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http://onlinejournal.com/artman/publish/article_2396.shtml

This is what is happening and you better be ready.

    Favorite    Flag as abusive Posted 12:50 PM on 09/11/2007
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