Don’t blame the “furriners” for this.  Really and truly, can you blame foreign central banks for not wanting to get stuck with warehouses full of Red Barry’s wasterpaper (via Instapundit): Central banks flush with record reserves are increasin…

Too late, jackasses.

I TOLD YOU
They would BETRAY US
DESTROY US
DESTROY THE ECONOMY
DESTROY THE DOLLAR
DESTROY OUR FREEDOMS

I told you morons not to vote for any of these CREEPS
ohh but you didnt listen did you ….

Now your liberal ass is in a sling..
Hey at least i held my nose and voted for mccain palin..
Honestly i was hoping mccain would then drop out leaving us with at least one good candidate..

Instead of finding new ways for the federal government to spend money, Congress and the President should be finding new ways to curtail it and demonstrate that we intend to end our irresponsible spending and massive government overreach into the private sector. In that sense, we can blame Obama for losing the opportunity to stop the dollar crisis before it reaches a tipping point.

You got that right…and if the dollar collapses, which I believe it will (and that is EXACTLY what Obama is trying to do) it will make the money we have worthless. In other words, he has found another way to spread the wealth by making most poor.

Get out of the dollar now.

And when Sarah announces, gradually get back into it.

She is the ‘Strong Dollar Girl’.

It’s time to start gearing up for impeachment. Obama and his crew are by far the most corrupt this nation has ever seen.

gary4205 on October 13, 2009 at 1:56 PM

Based on cases in English law that happened as our founding fathers were debating what language to use in the impeachment clause, I believe gross dereliction of duty in connection with the economy/fall of the dollar would be grounds for impeachment under the impied meaning of “high crimes and misdemeanors”.

But I don’t think anything will happen until the dollar falls more. I read in Bloomberg something like a $1.25 figure against the Euro is expected. This would be another 25 cent (+/-) drop from current figures, right?

I am in agreement with those that believe this is a deliberate undermining of the United States economy. Everything this administration wants to do is based on economic/social/environmental justice and redistribution of wealth.

Second, I love to blame Obama as the next guy in these parts but this is a result of a long-term trend supported by democrats, republicans, and foreign central banks. East Asia fueled it’s economy with weak currencies that worked so long as America could handle the ever increasing levels of debt required. We reached the top of the pyramid about a year or 2 ago.

The dollar has to weaken so the world economy can get back to a more natural setup. The East Asians however can’t grow without weak currencies (against most of the world) so now the Euro and Yen are their targets. Europe and Japan cannot for demographic reasons support it so I doubt this current phase will last long.

The result for us though is America’s relative exports have surged. Our non-energy trade is now almost in balance (as Palin can tell), and given that we still have a $2-300 billion deficit with Northeast Asia, we have a massive surprlus building with the rest of the world. As the dollar weakens that will grow helping to rebuild our economy, if Washington allows. I don’t know about the rest of the world outside of Northeast Asia though.

Also, on the energy front if this news is correct we could totally eliminate that deficit as well in a decade. Again, provided Washington allowed us but Obama is already moving to block further test fields so make that in 14 years.

Soros is probably betting heavily against the dollar, and the traitorous Osama Obama is meekly doing his bidding.

It’s all a game to scum like Soros and the money-market manipulators. They don’t give a damn about the consequences to the country they live in, since they always have an exit strategy. As long as they’re raking in the profits — in their currency of choice — they can afford to insulate themselves against the human misery they cause.

It’s time for the Chicago Jesus to be removed from office, and for a thorough investigation of sharks like Soros. They need to be stripped of both power and their ill-gotten gains.

MrScribbler on October 13, 2009 at 10:12 AM

Nail, meet head.

Interesting that Ed didn’t point out that much of Pethokoukis’ piece is in praise of the ‘Cuda.

More on the entire scheme of Obama and Soros:

http://thespeechatimeforchoosing.wordpress.com/2009/10/13/sarah-palin-is-absolutely-driving-the-debate-on-the-decline-of-the-us-dollar/

It’s time to start gearing up for impeachment. Obama and his crew are by far the most corrupt this nation has ever seen.

…

Foreign banks dumping the dollar?
Economists have long predicted the dollar’s demise as the global
currency of choice. Some, such as Paul Krugman, hailed it as a means
of correcting the American trade imbalance. Love it or hate it, the……

PappyD61 on October 13, 2009 at 1:14 PM

Best of luck to you!

(protip: try to use a bow for hunting if possible. Guns rock, but they can really advertise your location, something you’re probably trying not to do.)

We’re just going to forget the 401k, let the mortgage go and just go to WAL*MART, buy a tent and some Coleman camping equipment. Then we’ll take our hybrid seeds and food stocks and ammo and head for the hills. See you all there.

Goodbye Hope and Change. Hello Ammo and the Mountains.

Our GDP is $14 Trillion dollars, we produce most of the worlds resources. No other nation is anywhere close.

Largely debt-fueled. The longer we continue to prop up GDP with debt the harder the inevitable crash. We’re talking a 50% reduction in GDP, a complete credit lockdown (meaning the end of “Just-In-Time” economics and lending limited only to the safest of borrowers), and 30+% unemployment.

Math never lies. You simply cannot continue in a debt-based economy without debt servicing levels overwhelming everything else. Debt either needs to be paid down or defaulted on, and neither is happening right now at a meaningful level.

There are no realistic long-term plans to settle outstanding government debt. Banks are hiding mortgage losses by changing the definition of delinquency and refusing to complete foreclosure proceedings. To do so would force the banks to recognize the mark-to-market losses and would expose many of them as insolvent.

Government will stop deficit spending when there is no other option. By that time the Treasury will have been looted and the taxpayers will be left with inflated dollars that have zero purchasing power. When the torches and pitchforks arrive in Washington there won’t be anyone left there worth stringing up.

TheMightyMonarch on October 13, 2009 at 11:41 AM

Amen Amen Amen

wither

Er … “either”.

However, Obama’s fiscal policies are the worst we’ve seen in a generation.

That’s the understatement of US history. The Precedent’s fiscal policies are the worst we have EVER seen, without any question, at all. WITHOUT ANY QUESTION. And the rest of his policies are anti-growth, anti-competitive, anti-individualist, anti-American, …

We are have a deadly serious problem whose only solution is truly robust growth and creativity and The Precedent is orienting the federal government to stop our growth and squelch creativity in every single area. THis is the worst fiscal policy in our history and oriented towards nothing but the end of the US, as is The Traitor-in-Chief’s intention.

It’s wither The Precedent or the US. Both will not emerge intact from this insane experiment in affirmative action.

What should we, as individuals do? Should we be investing in the Euro and Yen as well- become money traders (which sucks since we will have to pay taxes on it).

Virginia Shanahan on October 13, 2009 at 10:46 AM

Educate yourself. Read a few books. Road to Serfdom F.A. Hayek, Thomas Sowell, Jim Rogers, Peter Schiff, Nassim Taleb. Once you have more knowledge it will help you choose and investment strategy that suits you and will help you find an investment advisor.

For more evidence of the dollar’s return to political salience, look no further than the Facebook page of Sarah Palin. The 2008 GOP vice presidential nominee — and possible 2012 presidential candidate — has shown a knack for identifying hot-button political issues, such as the purported “death panels” she claims to have found in Democratic healthcare reform plans. In a recent Facebook posting, Palin expressed deep concern over the dollar’s “continued viability as an international reserve currency” in light of huge U.S. budget deficits.

She might be onto something here, politically and economically.

And that’s the political problem for the Obama administration. Its benign neglect of the dollar is another example of an economic policy — along with TARP and the $787 billion stimulus — that the White House thinks is helping the economy, but many Americans find wrongheaded.

It is getting so tiring seeing this same sort of stupidity over and over. What is wrong with these commentators? Are they just incredibly stupid or is this their deep cowardice showing up in print?

There is nothing benign about what The Precedent is doing to the dollar. And if I see one more person try and float the moronic notion that this treasonous administration is trying to help the economy, I think I’m going to puke. This is worthless drivel from Pethokoukis. He should have his keyboard taken away from him so that he doesn’t pollute the world with any more of this idiocy.

This is so infuriating it drives me to Haiku:

It is not benign,
but so clearly by design,
Our nation’s decline.