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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chispas who wrote (81040)	7/5/2008 9:05:25 AM
From: John Carragher	Read Replies (2) \| Respond to of 116555

i thought the dollar was what was keeping the economy going right now with exports. i thought the dollar was what made the real estate very attractive to eu etc in flordia and ca. could drop in tourist be due to the pound getting hammered too. housing collasping in eu, spain, etc. does eu get hit hard and euro lose value in the next few years. do we think maybe dollar bottomed? i do not have any answers but was it bush policies that caused the housing crash? The banking crash? or should congress and corp greed explain part of the bust since the world was wrapped up in paper money with his risk rates.

To: Chispas who wrote (81040)	7/5/2008 2:32:27 PM
From: Metacomet	Read Replies (1) \| Respond to 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......