This story from The Independent in the UK is another example of how hosed the American public has become under the "leadership" of George the War Preznit.
The dollar has plunged to its lowest level ever against the euro amid evidence that the American housing market slowdown may be leaching into other areas of the economy.
And sterling also hit a fresh 26-year high against the US currency, with £1 at one point buying close to $2.03.
The dollar's decline came amid warnings of worsening conditions in the housing market. The rating agency Standard & Poor's predicted more defaults among low-income borrowers who have taken out so-called "sub-prime" mortgages, while the biggest home improvement chain, Home Depot, issued its second profit warning in two months.
And the decline is not just against the Pound Sterling or the Euro. Just last week I was in Canada where the exchange rate was $1 US = 1.05 Canadian. Not long ago the exchange rate was $1 US = 1.32 Canadian. Three years ago in England the exchange rate in the Birmingham airport was nearly $1.40 US = 1 Pound Sterling. Now its almost 2/3 worse. And the Euro? Long gone are the days when the Euro was something to be laughed at.
Why do you suppose so many countries are considering switching from using the US Dollar to using the Euro to pay for oil purchases?
How many people realize that nearly 30 percent of America's ginormous foreign debt is owned by China?
When are people going to wake up that Bush is the single worst terrorist attack this country has ever experienced?
At least the profits of British Petroleum and Haliburton are still sky rocketing.
Heck of a job, Dubya.
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