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Spread this message with Digg, Del.icio.us, Reddit, or Stumbleupon, and subscribe to the RSS Feed to track articles The Falling Dollar and Rising DebtsE-mail - editor@economyincisis.org |
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There is no way to dress it up- the greenback is losing its worth. A Congressional Quarterly article noted the dollars recent performance against major currencies during June 2007: A 30-year low against the Canadian dollar. Jim Baird is the managing editor at EconomyInCrisis.org. He is a journalist and commentator. Mr. Baird studied in the Honors Politics program at the University of Edinburgh and is a graduate of The Ohio State University where he studied political science and journalism. Click here to contact your Representative in Congress. Spread this message with Digg, Del.icio.us, Reddit, or Stumbleupon, and subscribe to the RSS Feed to track articles
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Article Comments From Readers
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ReformerRay says "Falling dollar - etc." on 10/29/07
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guest says "Actually Cubans are far better than Americans thanks to Castro." on 10/28/07
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The Cubans have done a wonderful job at both educating their citizens with affordable health care. They have done this with Uncle Sam constantly trying to marginalize and undermine their sovereignty.
Before Castro, Cubans were treated as trash in their own country by the Americans and the mafia who ran the island and had rackets of drug trafficking, gambling, and prostitution galore. Castro cleaned that up and provided decency for his people. You've got to respect and admire him for wisdom and leadship. He is unmatched in the world for his statesmanship. Going on to the God topic, there is no demonstrably positive relationship between religiosity and moral values. We can actually see that the most devout and religious are actually some of the most wicked in our society. Pastor Ted-the meth fueled gay sex loving pastor Mark Foley-trolling the internet for teenage flesh while joining hailing the "family values". Larry Craig-the toilet anonymous sex sex senator who criticised Clinton for his affair while being another "family values man" Newt Gingrinch-who carried on his own affair while pushing the impeachment on CLinton for his indiscretions. Henry Hyde-who was also carrying on an affair but could'nt resist criticising Clinton with a long winded speech with reference to Plato and Socrates. Many Catholic priests-who have preyed on the gentle lambs of their own flock. Sweaty-Sinner Swaggert who was one of God's best, was really cheating on his wife and making millions on his gullible sheep. Yes folks, its true in most cases: the more religious a person is, the more wicked they really are underneath and are leading a double life. Let's not forget George Bush and Dick Cheney. Nice examples of Christian Jihadists actively violating the rule of law, creating agressive war, arguing for and endorsing torture, destroying our Constitutional Rights and Freedoms, trashing our nation through debt and outsourcing and amnesty for illegals. This is the insuperable administration of stupidity, mismanagement, incompetence, corruption and shamelesness. These are Biblical men. Their values can easily be defended in the pages of both OT and NT writings. Look at your bible. Its littered with God's abominable behavior. We can easily find God sanctioning practices of polygamy, genocide, infanticide, torture, brutality, meglomania, slavery, Injustice towards women, and endless destruction of people and property, with hell to punish the "unbelievers". Let's not forget that it was the Religious Right who urged Bush to destroy Iraq, and rails against healthcare for children, and has slick multimillionare evangelists who weekly scare people into emptying their wallets for the hope of salvation. Capitalism left unchecked aids and abets Greed and theft as it creates tycoons at the expense of the serfs. Religion uses fear and unguaranteed promises to bilk the good but gullible people into suspending rationality for hope as they fill the coffers of churches with billions in treasure each year. |
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guest says "Guest 08/25/07 is correct"Adil Mouhammed makes some good points"" on 10/25/07
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I think it's interesting that Marx is being applauded by people who live in the US. Capitalism is the the only system in history that has brought nations out of poverty. It's the abuse, and valueless practioners of capitalism stemming from an anti-God moral decaying society that is the problem. Ask a peasent in the rural or slum areas of China, Cuba, and North Korea how well communism works.
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guest says "Guest 08/25/07 is correct" on 08/25/07
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He stated a hard truth no one in this greed driven cultural wants to hear - Capitalism does self-destruct as Marx said. Trust me on this - I have said as much on my own blog - I forsee a new Communist Manifesto being written, and we will have no one but ourselves to blame.
www.culturalconscience.com |
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guest says "Adil Mouhammed makes some good points" on 08/25/07
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It is the private goal of the Federal Reserve to protect the small super wealthy multi-millionaires and billionaires who are the beneficiaries of the immense corporate welfare system.
The tremedous borrowing and debt the US owes, and the falling dollar are only delaying the inevitable collapse of the USA's economic mismanagement. At some point in the near future, the insolvency will grow too big to bail out and then the markets will crash and the dollar will lose even more value. We have seen a taste of this in slow motion over the last 2 weeks. It appears that Marx was right after all about Capitalism, it wrecks itself through its own excessive greed, political and economic power consolidation and corruption in the name of higher profits and at the expense of all the workers who actually make the system work. |
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guest says "The Basic Cause" on 08/24/07
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The basic problem is not the debt. The debt is the effect. It is the war, the cause, my dear friends. The two wars have forced the President of the country to resort to deficit spending to finance the wars. Deficit spending generates a higher rate of inflation. The Fed has to defend the vested interest of the financiers who are managing and running the nation. This is because when the inflation rate increases, the real value of the dollar will decline. Hence, the real value of the debts will decline. That is, the financiers who have provided loans to debtors will be jacked up. It follows that the Fed has to raise the short term interest rate, or the federal funds rate. In fact, there is another reason why the Fed increases the short term interest rates, which is to increase the demand for the dollar in order to increase its value. As you know, when the dollar is appreciated due to the high interest rate, the country will attract more foreign savings. At any rate, the appreciation of dollar will increase imports and reduce exports, a situation that does not help employment—It is crazy. Once again, one the one hand, the Fed would like to keep the federal funds rate high in order to defend the financiers. On the other hand, the President would like to continue using the deficit spending in order to enrich the military complex. And when more bombs are dropped in the Middle East, the price of oil will rise; therefore, oil corporations will make high profits. In other words, our President has been helping oil and military corporations. In the final analysis, the American people have been squeezed by the Fed and the President in order for the military complex and oil corporations to make super profits. Best Regards. Adil Mouhammed
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guest says "Economy in Crisis" on 08/24/07
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I agree with this article. Something I have been thinking about for a few years.
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Regarding Karl Marx, greed and overreaching as the downfall of Capitalism, history shows that Karl Marx was marginalized in the 19th Century in England and the U.S. because good hearted people who were trained in sunday school to love their fellow men, could not stomach the ugly child labor conditions in early capitalism. In the 1930's the opponents of unrestricted greed gained control of the U.S. government and established rules which enabled the U.S. to outproduce Germany in WW II and to become the most productive country in the world.
Reagan persuaded some fearful people that the U.S. problem was welfare queens and a government that tried to do too much controlling of human behavior. Good hearted people can overstep just like greedy capitalist.
After the excesses of George Bush are corrected, I believe that the U.S. will seek some way to reduce the money-grabbling ability currently avialable to the Wall Street gamblers to manipulate the system to benefit only themselves. And restore some rewards to those who can create goods and services we all enjoy.
Karl Marx was certain that the population as a whole would never obtain enough political power to reign in the excesses of Capitalism. In this he was wrong. He is also wrong when he says that Capitalism will inevitably self-destruct. The Democracy of Andrew Jackson, Abraham Lincoln and Franklin Roosevelt saved capitalism in the past and it will emerge again to save capitalism by restricting the ability of powerful people to cheat the rest of us. This will require some new people to be elected to the Congress.