The following article is for America's younger voters who supported Obama and are now smiling, playing with their I-Pods - a glass of kool-aid in hand. I advise you to take just a little time to study basic economic/monetary theory because Obama's actions regarding the economy are flushing America's future down the toilet. You need to wake up and let Obama know when you are awake.
Day of reckoning looms for the U.S. dollar
Alia McMullen, Financial Post
http://a123.g.akamai.net/f/123/12465/1d/www.financialpost.com/usdollar_istock.jpg iStock
The U.S. dollar's day of reckoning may be inching closer as its status as a safe-haven currency fades with every uptick in stocks and commodities and its potential risks - debt and inflation - are brought under a harsher spotlight.
Ashraf Laidi, chief market strategist at CMC Markets, said Wednesday a "serious case of dollar damage" was underway.
"We long warned about the day of reckoning for the dollar emerging at the next economic recovery," Mr. Laidi said in a note.
Mr. Laidi said economic recovery would weigh on the greenback as real demand for commodities, coupled with improved risk appetite, caused investors to seek higher yields in emerging markets and commodity currencies. This would draw investment away from the U.S. dollar, which was dragged down by growing debt and the risk quantitative easing would eventually spark a surge in inflation.
The U.S. dollar slid against most major currencies Wednesday, hitting a five-month low of US$1.3775 against the euro and pushing the Canadian dollar up US1.21¢ to a seven-month high of US87.69¢.
John Curran, the senior corporate dealer at Canadian Forex, said the U.S. dollar would likely fall further in the next week, with the Canadian dollar likely reaching about US88.35¢, at which point it could break higher to test the US92.35¢ level.
"The U.S. dollar is continuing to slide as investor appetite is gaining momentum," Mr. Curran said. "People are getting comfortable about taking on a little more risk."
The rise in the Canadian dollar has moved in lock-step with the improvement in equity markets since March 9. Over this time, the S&P 500 has risen by 34%, the S&P/TSX composite index has gained 35% and the Canadian dollar has increased by 14%, equal to almost US11¢. Since Feb. 18, light-crude oil has risen by 46% to US$62.12.
But as risk appetite and equities improve, Mr. Curran said it was unlikely the U.S. dollar would embark on a long-term decline....Continue Reading
You guys may also want to consider this recent post on NOQUARTER:
Welch on Obama: “He’s Fooling People”
By Larry Doyle
“Fool me once, shame on you. Fool me twice . . . ”
Jack Welch, former CEO of General Electric scorched Barack Obama’s plans in a presentation yesterday in Boston. Welch, author of Jack, Straight From the Gut, pulled absolutely no punches. Bloomberg reports:
Jack Welch, former chief executive officer of General Electric Co., criticized the government- backed bankruptcy of Chrysler LLC for favoring unions at the expense of creditors and said President Barack Obama’s economic stimulus programs will cause budget deficits.
“I don’t particularly like where he’s taking us,” Welch said, referring to Obama, during an interview yesterday at the Boston Convention Center. Welch, 73, who led GE from 1981 to 2001, was a guest speaker at the New England Business Xpo.
“To get the money he needs, he has to have a fake budget,” Welch said. “He’s fooling people about how we’re going to have the top line support the programs in the middle without enormous taxes and some programs not going.”
Who in Washington and our mainstream media are calling Obama and team on the carpet for this charade? In order for capitalism, free markets, and ultimately democracy to thrive there needs to be accountability and transparency in the process.
We will not achieve the necessary accountability and transparency without serious questioning and rigorous debate on the issues. Given the current makeup of our legislative bodies, the risks to our country are significant. Without a legislative check, the pressure on the media to expose the massive costs - financial and otherwise - of the Obama agenda are paramount. Aside from Bloomberg and typically the Wall Street Journal, what other outlets are holding Obama accountable?...Continue Reading
Michael Savage finds some welcome support.
MEDIA MATTERS
Radio fire ignited to burn Savage ban
Talkers urged to boycott U.K., rally around blacklisted host
Posted: May 20, 2009
11:05 pm Eastern
By Chelsea Schilling
Bill Cunningham
A well-known right-leaning radio firebrand whose face has become a staple on cable TV news shows has vowed to speak out against the U.K.'s blacklisting of Michael Savage – and he's demanding that the nation's talkers join him.
Bill Cunningham, Cincinnati host of 700 WLW who replaced Matt Drudge on the Sunday night Premiere Radio Network talk show, is best known for being scolded by John McCain after he referred to President Obama as "Barack Hussein Obama" during the presidential campaigns. He pledged Sunday to talk about Britain's ban every week on his live show, aired in more than 200 markets, until the U.K. removes Savage's name from its blacklist...Continue Reading
I hope Obama supporters will back Michael Savage in his efforts. I'm not holding my breath, given the way many Obama supporters have been relentless in their efforts to silence Larry Sinclair. Mr. Sinclair is the man who alleges that he and Obama used cocaine and engaged in consensual sex in 1999.
