Canadian dollar worth over $1.03 USD |
Loading ...Kept next to my desk is a $2 bill which to date I’ve always thought of as kind of a novelty.
If the U.S dollar value continues to slide then this $2 bill might move back into fashion someday — seriously. Washington economic consultant Charles McMillion calculates 20.5% of the US dollar’s value has decreased since October 2002. McMillion has his eye on the Australian dollar being possibly the next to pass the US dollar if the situation doesn’t change.
See the downward spiral of the US Dollar using the Yahoo currency converter.
via gulfnews.com:
During that five year period, the dollar is down 43.9 per cent against the euro, down 61.8 per cent against the Canadian dollar, down 10.2 per cent against the Chinese yuan, down 5.6 per cent against the Japanese yen, down 30.6 per cent against the British pound, and up 5.8 per cent against the Mexican peso.
Wow, we’re only gaining ground on the Mexican peso under the Bush administration? Now there’s something to hang your hat on, President Bush. When will somebody in the White House realize we can’t afford the Iraq war? Forget about revenge, nation rebuilding or whatever idealistic middle east fantasies we have, let’s pull the troops out of there ASAP and work on restoring financial stability on our own soil.
The Iraq War is deficit funded.
U.S. tax dollars pay for a war that costs U.S. taxpayers hundreds of billions and incites Muslim hatred of our country, yet Bush vetoes a measures that would provide health care for needy kids.
Comment by Vince Williams — October 20, 2007 @ 7:19 pm PST
Vince you should give politicalbase.com a look, great site with lots of info on issues. I bet you’d like it. I’m not affiliated with the site in any way and think it’s one of the better interactive sites on a niche topic (politics in this case) that I’ve seen in awhile. Let me know what you think
I’m TDavid over there as well, feel free to friend me if you like and I’ll return the favor.
Comment by TDavid — October 20, 2007 @ 7:25 pm PST
Thanks, TD.
I like the looks of the site, and I’m there now. I made my friend request.
I’ll comment there when I get a chance, I saw something in your profile I found interesting.
Comment by Vince Williams — October 20, 2007 @ 9:33 pm PST
I added you, mon
I’ve been collecting and tagging a bunch of different videos over there in my profile on the various candidates trying to get a bead on who to vote for.
Comment by TDavid — October 20, 2007 @ 9:48 pm PST
Sure, lets bail in Iraq now and leave a gapping void of political stability and military security to let Iran and Al Qaeda come in and take over - that’ll be real good for global peace and terrorism. Financial stability was not at the forefront of my, nor yours, mind on 9/11 and won’t be the next time US soil is attacked. Bare in mind, that fears of war is one of the most destabilizing force to financial stability - withdraw US troops, especially abruptly as many Americans deem the “right” thing to do - and a count the days until we’re attacked again. The best defense is still a good offense. Please visit stratfor.com to read and listen to some compelling reports and short podcasts - they are not Bush fans but realize the threat Iran poses to the world.
On a different note, good stats on the dollar. Factor in China’s imminent depeg of their Yuan to the dollar and a US deficit that will start to spiral out of control around 05 to 07 (not only will China, the globe’s eventual economic powerhouse, stop funding our debt addiction, but that’s when the punch in the bowl will really start disappearing due to the baby boomers draining social security and Medicare!) and it won’t be surprising to see the dollar hit 2 Euros if not 3!
Comment by Sean — October 22, 2007 @ 12:08 am PST
Hi Sean - I understand just pulling out will have consequences, but so does staying there. And I don’t buy into fear. Let them come over here if they dare, I’m not going to cry over the whole “if we’re not over there, they’ll be over here” FUD.
And if you are overdrawn in the bank, it’s not very wise to keep racking up debt on credit, is it? The country needs to be fiscally responsible which it hasn’t been under the Bush administration — ever. I want somebody in the White House — and in congress — who understands that we can’t bankrupt the country. Education is declining, the value of the dollar, an increasing number of exports, we’re just getting our ass kicked financially.
As for 9/11, come on, we all thought we were going in to get Osama Bin Laden, not invade and occupy Iraq. Let’s not try to mix apples with oranges.
Sean, why are we building a HUGE embassy in Iraq? All this money the Bush administration is spending and let’s not forget congress who keeps signing off on this stuff, they aren’t any better. We should build a dignified, financially viable embassy, not our biggest freaking embassy in the world! It’s like buying a new Porsche when you can’t even afford a Hyundai.
Bush only knows how to spend our money — and money for the future — like it’s water and elbow up with his oil buddies. We need change. Something close to radical. Maybe somebody like Ron Paul in 2008 — but unfortunately a guy like him will probably not make it on the Republican ticket because he’s too conservative. Imagine the irony there?
Comment by TDavid — October 22, 2007 @ 6:54 am PST
[…] on assault weapons. Sorry for shoehorning in something political into a joke post, but at least one reader was curious why I’m against a ban on assault weapons and since I don’t write about guns very often, I […]
Pingback by Email bullets to your friends and foes » Make You Go Hmm — October 22, 2007 @ 7:33 am PST
I was in Montreal last week. While it used to be smart to convert your US dollars to Canadian, now it is not. They’ll accept US dollars (cash) at most places so now it’s a better deal to use your US dollars and NOT your credit/debit cards…
Comment by FranciscoIV — October 22, 2007 @ 8:52 am PST
Bush never learned fiscal responsibility when he was in business because his daddy’s deep-pocket connections bailed him out every time he ran a business into the ground.
He’s a rich kid who never learned the real world consequences of financial irresponsibility, but he learned the ropes of dirty politics from Karl Rove.
Comment by Vince Williams — October 22, 2007 @ 10:24 am PST
I refuse to acknowledge that ANY politician even understands the concept of fiscal responsibility - Bush included :o)
Dirty politics, eh? Again, I’m not going to argue any point that has dirty and politics in the same sentence, but if you were fair and honest (which you probably are), you’d acknowledge that when it came to dirty politics, the last Democratic president was as bad (at best) in this catagory and in reality much worse. Of course, you’re welcome to disagree with me - but these points are really like debating over whether water has 2 parts hydrogen and one part oxygen =-b
Comment by Sean — October 22, 2007 @ 12:44 pm PST
In response to the comment “I understand just pulling out will have consequences” - a surprising response (Ron Paul!) w/many good points. Sadly the only one in DC concerned about DC’s poor financial habits is David Walker, sadly 19 out of 20 - if not 99 out of 100, still haven’t heard his message. I’m in full agreement, Iraq or not (and let’s face it, this problem was around before and will continue after the war), continued debt financing US’s “country style” (life style super sized!) is not a happy outlook!
Comment by Sean — October 22, 2007 @ 2:16 pm PST
So Sean, in your view, if I’m fair and honest, then I’ll see things YOUR way.
Bullshit.
Comment by Vince Williams — October 22, 2007 @ 10:00 pm PST
Yikes, as of Nov 9, conversion rate up to $1.09, almost $1.10!
Comment by TDavid — November 7, 2007 @ 6:19 am PST