On May 19, 2008, at 12:14 PM, Kevin Callahan wrote: > http://www.commondreams.org/archive/2008/05/19/9047/ > As Mike Whitney reported at the end of October in 2006 — a day before > Halloween — the US was then engineering the drop in the dollar to > “improve competitiveness” — ie subsidize US exports in a flawed > attempt to reduce the growing balance of trade gap. The result was > summed up in the headline: “The U.S. Dollar is kaput. Confidence in > the currency is eroding by the day.”
This article seems pretty silly - a rehash of the writings of financial conspiracy theorist Mike Whitney. The thing is, you hardly need a conspiracy theory to explain the week dollar. We asked the rest of the world to lend us scads of money so we could have a war without paying for it ourselves. They eventually wised up. American organized labor has been pushing for a weaker dollar for a long time now. They aren't stupid. This article makes it sound like somehow the weak dollar is not in their interest. -- The fundamental delusion of humanity is to suppose that I am here and you are out there -Yasutani Roshi, Zen master (1885-1973) _______________________________________________ OSX-Nutters mailing list | [email protected] http://lists.tit-wank.com/mailman/listinfo/osx-nutters List hosted at http://cat5.org/
