I told you so...

[mikelewis]

As you watch the foreign markets plummet, keep this in mind. I told you so. I told you that the only thing this bail out would do would be to devalue the American dollar and create a tidal wave of inflation. As if on cue, the world financial markets, who know this much better than I, are going to start spiraling out of control... why? Just like you and I, they rely on the U.S. dollar. They buy them in the form of T-bills and notes and that is how we raise the money for our wars. They know that what the Congress just approved was exactly like what Nixon did in the 70's, only on a magnitude that is unprecedented in history. Congress just devalued the money that we owed these countries and their markets are puking their guts out right now. Just wait... wait until that giant shit storm hits these shores... because it hasn't yet. That inflationary bubble is going to eviscerate the dollar when it hits in a few weeks. The foreign markets know it and soon... in a week or two... maybe less, you will too. And when you do... just remember, I told you so. This storm did not have to happen... it won't be anyone's fault except our Congress... great job you spineless Bush shills.

[ixion]

1. like so many spineless pols throughout history

they walk us gleefully off the cliff. The picture of Nancy with a big smile, holding the document that will become know as the legislation that sank the country.

Thanks pols! :grr:

[depakid]

2. Hopefully, you will remember to come back in a couple of weeks and admit you were wrong

about the effects on the dollar, which have a lot more to do with realtive economic measures than any effects of this bill.

and btw: the worry isn't inflation:

Deflation May Be Next Threat as Commodities, Asset Markets Sink

Oct. 6 (Bloomberg) -- As Federal Reserve Chairman Ben S. Bernanke and his global colleagues fight the worst financial crisis since the 1930s, one danger is looming larger by the day: deflation.

With asset markets tumbling, commodity prices plunging the most in 50 years and banks keeping a tighter grip on credit, the ingredients for a sustained period of falling prices are coalescing. While inflation is still a concern for many policy makers only months after oil and food prices peaked, the risk is their patchwork of rescue and stimulus packages will fail, and prices will start to fall throughout the broader economy.

``The ghost of deflation could be dragged out of the closet again in coming months,'' says Joerg Kraemer, chief economist at Commerzbank AG in London.

More: http://www.bloomberg.com/apps/news?pid=20601087&sid=aD24rTsF1jwE&refer=home

[Jamastiene]

3. Either way, we are fucked. n/t

[Zynx]

4. I guess that would explain why the dollar is up 2% against the Euro?

[OPERATIONMINDCRIME]

5. ROFLMAO!!!!!!!!

You crack me up!

:rofl: