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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (399106)	7/15/2008 7:53:52 PM
From: tejek	Read Replies (1) \| Respond to of 1577937

For the last month but look at how high the rates in europe are compared to the US. You do understand why that is.........the EU doesn't have our subprime problem. While its true that certain parts of the EU, like the UK and Spain, have seen a bubble develop in their housing markets, they weren't breaking the law like they were in this country. Therefore, the ECB didn't have to drop interest rates like its American counterpart in an effort to make its banks whole again. That spread is whats causing the too strong euro. The weak dollar is caused by our economic and corruption problems, and not because of interest rates. This is how Republicans stay in denial......they blame everyone else for their problems. I stopped calling this a weak dollar problem last week. Its now a strong euro problem. To be fair, its really both and too strong a currency is as big a problem for a nation as too weak. Euro tourists overrunning NY and buying up stuff (good for us), american tourists abroad are far less and paying $10 for a coffee (bad for them). Real problem are with our imports (if those prices rise precipitously--so far not so bad) and their exports (going away). Its an American problem. We need to get our act together. Only now are American banks and mortgage lenders tightening up their lending regulations AFTER the horses have left the barn. Its going to take years to clean up this mess. And you have no one else to blame but yourself. I've sold real estate before......I was amazed to hear how the laws were bent the last few years to make deals fly that shouldn't have. This all happened because everyone in the biz knew that Bush and his cronies would look the other way. Well, now, we are paying the piper for that sh*t.