I found a link to Pat B's blog. The man is speaking the truth of what is happening to America these days, unlike the other fools out there, he does not give complete blame to Bush for America's woes but rather America itself gets more credit for its economic troubles:
http://www.roguegovernment.com/news.php?id=4824

Let's get the facts straight, the USA is a Democracy, people blame Bush for America's problems, yet a majority of Americans voted for him in 2004, so who should really be blamed for the USA's troubles? The clowns who voted for him, of course, over half of the voting population of the USA.

Pat B merely mentions that Bush is presiding over the decline of the American Dollar and hence American financial hegemony, he takes fewer jabs at the President than the mainstream nonsense media, puts primary blame on the American consumer, spending more than they can earn, and this is the real culprit. The fact that the Dollar has declined during all this is coincidental with the other political developments happening in the US and worldwide. Its really a case of the chickens coming home to roost. Although he does still take a few jabs at George W, but still most of the blame is due to reckless consumerism.

I thought this will never happen, but finally I agree with you in something...."still most of the blame is due to reckless consumerism" and the real fault shifts to those who voted for GW.



quote=GeorgeMD2B;796642]I found a link to Pat B's blog. The man is speaking the truth of what is happening to America these days, unlike the other fools out there, he does not give complete blame to Bush for America's woes but rather America itself gets more credit for its economic troubles:
http://www.roguegovernment.com/news.php?id=4824

Let's get the facts straight, the USA is a Democracy, people blame Bush for America's problems, yet a majority of Americans voted for him in 2004, so who should really be blamed for the USA's troubles? The clowns who voted for him, of course, over half of the voting population of the USA.

Pat B merely mentions that Bush is presiding over the decline of the American Dollar and hence American financial hegemony, he takes fewer jabs at the President than the mainstream nonsense media, puts primary blame on the American consumer, spending more than they can earn, and this is the real culprit. The fact that the Dollar has declined during all this is coincidental with the other political developments happening in the US and worldwide. Its really a case of the chickens coming home to roost. Although he does still take a few jabs at George W, but still most of the blame is due to reckless consumerism.[/quote]

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Too much of a good thing. Consumerism makes our economy very flexible: able to withstand economic storms by keeping the money out there working for us. Multi-directional "trickle" theory so to speak.

I have a hard time blaming consumers for anything. Particularly when they/we are playing the American dream/game.

Can't say I'm the best example of money/credit management. Just thank god I wasn't one of the ones caught up by the temptation to get an adjustable rate mortgage.

Well Pat is right that no society rises to greatness by debasing its own currency. The sinking Dollar is a sign of a sinking America. I love the way how the corporate media has been spinning the sinking currency as a good thing, it never is a good thing.

There are plenty of good reasons (unspecified value of good) for a weak dollar in the short run: influx of foreign investment, helping US manufacturers sell their products balacing the trade deficit, new mutli-national corps gaining market share...etc(can't think of any others). BUT the short run has to come back and should NOT go hand-in-hand with an interventionist foreign policy (Mr. B I'm sure agrees with me here) which scares away the very things we want to acomplish by allowing the dollar's value to drop. Good example of how economists are always going to say "on the one hand" this and "on the other hand" that. And why Pres. Truman wanted to find a "one-handed economist".

Well I took matters into my own hands and have dumped all US denominated assets. I now own gold, Euros, Swiss Francs, Australian Dollars, and Canadian Dollars. I just don't see a good future with the dollar, none of the three candidates are going to do anything about the weakening dollar. Within a decade the US will be a third world country.

The weak dollar helping exports? What exactly does the US export????

I love your optimism Jorge. 10 years to Haiti everyone!

You want a list of US exports? Pins, hats, wheat, corn, cars, financial services, education, pharmaceuticals, movies, music, cigarettes, beer. Maybe not pins!!!!

...a 3 letter word is the answer....USA exports arms[rockets,fighter planes, bombs and mines].....its listed as its top export...a weak dollar will help ship millions of tons of these arms n weapons abroad in record number so we can have more wars in the 3rd worlds and save tons of US jobs and be number#1 again.

I already like this plan.......

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Ye Olde Eisenhower's warning: military-industrial-(congressional edited out of his speech) complex

What about the fact that despite the devaluation, the US current account deficit has balooned to 800 Billion Dollars?? Germany with a strong Euro, continues to expand its trade surplus. The Eurozone economies in general are posting healthier economic gains than the US and Britain. The only Anglo nations that seem to be growing steadily are Australia, New Zealand, and Canada, all have soaring currencies. Australia and NZ are pinned to China.

China and Russia are already in on the arms export game.

Okay maybe I am too pessimistic, like it or not the US will look like a banana republic in two decades, maybe not 10. China has a vested interest in propping up the US economy for a little while longer, but when their vacuum cleaner is full, its game over.

Devaluing a nation's currency does not lead to greatness.