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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Chispas who wrote (81040)7/5/2008 2:32:27 PM
From: Metacomet  Read Replies (1) of 116555
 
"Let's roll back the clock to see where the dollar was when The Decider was one day into his Presidency on January 20, 2001. But first, here's a headline from that day to put you into the mood for this little exercise in forensic economics: "We got some dancing to do," Bush says!'

On that day, ONE U.S. Dollar bought 1.07030 Euro according to the Oanda.com historical exchange data.

When the markets closed on Friday the Fourth yesterday, the exchange was ONE U.S. Dollar buying 0.63180 Euro.

In other words, relative to Europe, the Dollar has lost more than 40% of its overseas purchasing power under Bush. Say, that's some "strong dollar policy" don'tcha think?"

Ure does have a knack for cutting thru the bullshit and telling it like it is.

....and over 40% of Americans are hankering for more of the same ala McCain.

Go figure......
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