Kerry should concede now, don't make it worse. We don't need a more divided country. Concede, put the ball in George's court, make him become the compassionate conservative he said he was the first time he ran.
Here's number eleven... From the BBC: Dollar decline gathers momentum The dollar has fallen to another record low against the euro, amid mounting worries over the US' tightly-stretched public finances. The euro hit $1.2985, against Friday's previous record low of $1.2973, before the dollar regained some ground. The decline reflects market speculation that US public spending will continue to outstrip government revenues under President Bush's second administration. The dollar is expected to fall further, denting European and Asian exports. "The euro-dollar's break of $1.30 is only a matter of time," said Naomi Fink, currency strategist at BNP Paribas. "It's just a question of momentum." The dollar stood at $1.2953 per euro by 1533 GMT. Against the yen it was trading at 105.42 yen, having earlier fallen to 105.30 yen - its lowest level since April. Export outlook The US currency has been weakening for much of the past year, pressured by worries over the US' record $427bn budget deficit. But the pace of the dollar's decline has picked up since President George W Bush - whose heavy spending has pushed the US finances into the red - was elected to a second term in office last week. The currency markets are also concerned about the US current account deficit, which hit a record $166bn in the second quarter of 2004. The weaker dollar will make European and Asian exports more expensive, and hence less competitive, in the US. Analysts warned that this could seriously dent the European economy, which relies on exports for much of its growth amid sluggish domestic demand. The recent moves... are not welcome from the standpoint of the European Central Bank Jean-Claude Trichet , ECB president "The main source of growth is external demand," Joanne Collins, senior economist at Daiwa SMBC, told the BBC's World Business Report. "This loss of competitiveness is what European exporters could do without." The euro is now up by 57% from its all-time low of $0.82, recorded in October 2000. European Central Bank President Jean-Claude Trichet said on Monday that the recent weakness of the dollar was unwelcome. "The recent moves, which tend to be brutal on the exchange markets between the euro and the US dollar, are not welcome from the standpoint of the ECB," he said. http://news.bbc.co.uk/2/hi/business/3991341.stm I looked in the US newspapers I typically scan everyday, the Times, the Post, and the Chronicle... and didn't see it mentioned. That doesn't mean they haven't run stories on it, just that there weren't any today. If anyone is thinking of traveling to Europe, and we've been considering going next summer with our kids for a couple of months, this news is brutal. I found the underlying problems in the US, mentioned as the reasons for the dollar's decline, even more worrisome, if unsurprising. Bush is busy destroying our long-term economic health, in my opinion. This is symptomatic of running huge deficits and a war, while cutting taxes. How Republicans could have voted for this guy is beyond me, but that doesn't matter now. What matters is, what is the Congress going to do about it? Will the Administration change course? And what will we do when oil is paid for in Euros, and when the countries currently buying US treasury bonds (our debt) stop buying our bonds and look to other places to put their money... places that don't have a plummeting currency? Keep D&D Civil!!
it just isn't the euro, the pound and d-mark are also being affected thats what a projected $5+ TRILLION deficit over the next 10 years will do to your currency we've already annouced we will be borrowing a record $147 BILLION for the first 3 months of 2005 are you ready for some high interest rates guys? of course none of this takes into account the hundreds of billions we will have to spend in Iraq and Afghanistan still
You're right, of course, but the Euro's jump is just nuts! If it becomes the major world currency, replacing the dollar, then we are in a world of hurt. And it's a real possiblity. Keep D&D Civil!!
Well, if Bush makes his tax cuts permanent and takes money from the social security part of everyone's pay checks for private investment while still paying the checks to those already on S.S. the defict spending, and our national debt will go up even more. It's kind of like when you see a neighbor who's lost their job go through a mid-life crisis at the same time, and start making luxury item purchases on their credit cards. You want to shake them and tell them to take some responsibility. Somebody should do the same thing to this President and our congress.
