Wednesday, March 26, 2008

Too little too late

A surprisingly positive article on Ron Paul from Fox News:

Time to listen to Texas Congressman Ron Paul, the lone voice of reason in Congress today who’s got to feel like he’s shouting into a field of cotton with his repeated warnings about the dangers of a collapsing dollar, while the administration goes AWOL on the problem.

The dollar just hit a record intraday low against the euro on reports that consumer confidence levels have dropped to levels not seen since the post-Watergate era. It is down 7% year to date against the Chinese renminbi, it’s weaker than the Japanese yen and the Canadian loonie.

The joke is the greenback is now only stronger than the Mexican pesos and the Zimbabwe dollar, an overstatement for dramatic effect, to be sure.But since hitting a peak in 2002, the dollar has lost about a quarter of its value against a trade weighted basket of currencies.

Read the rest here.

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1 comment:

The Swindle said...

Fox News is a joke. They'll give Paul airplay now to advance their agenda, which will be to slam the democrats plans for Universal Health Care and the like, but scoff like aristocratic elites when running for President. Don't get me wrong, Fox News wasn't alone in that, but it pains me to see a great man being used to advance someone else's dishonest agenda.

Not that I disagree with the message whatsoever.