"Investors Agree: Anything But The Dollar" (Under Bush, U.S. Losing Leadership As Financial Bedrock)

[Hissyspit]

http://www.americablog.com/2007/11/investors-agree-anything-but-dollar.html

"Investors agree: Anything but the dollar"
by John Aravosis (DC) · 11/08/2007 12:08:00 PM ET

Our country is in serious trouble. Under George Bush and the Republicans we not only lost our leadership as the moral standard-bearer of the world, we now risk losing our leadership as the financial bedrock of the world. People no longer have confidence in America. And all of the republicans' flag-waving and "we're number one!" slogans have done nothing to fix some very serious problems that they've caused and ignored. We can't go on like this. Pretending that we're winning in Iraq, pretending that we don't have a health care crisis, pretending that global warming doesn't exist, pretending that massive federal budget deficits don't matter because lowering taxes supposedly makes money (even though Reagan and Bush have now both broken the budget by lowering taxes). We can't keep pretending that everything is okay when it's not, simply because the Republicans are afraid to admit that they've royally screwed up our country.

From the International Herald Tribune:

In short, markets appeared firmly in the grip of a mood that seemed to scream for any investment other than the dollar, a reflection of a broad lack of confidence in a U.S. economy that could not seem to put the subprime mortgage crisis behind it. Unusually, powerful new Chinese investors appeared to endorse the idea that the U.S. currency was bound to fade as a result.

The European Central Bank seems set to stand by the strong euro when it meets Thursday to set interest rates - offering a credible alternative to a U.S. currency that now seems less indispensable than it has in some time.....

"We are experiencing among our clients an awakening that the United States is in big trouble," said Erik Nielsen, chief Europe economist at Goldman Sachs. "It is not just the mortgage market."

[Hydra]

1. The end of the empire

How you gonna pay for those Mercs, Furless Leader? They're gonna want Euros soon. You aren't allowed to print those, are you?

[lovuian]

2. Republicans and Bush bankrupted this nation

with tax cutes to the rich

Its going to be a very rough road ahead