Dollar Slides After Greenspan Comments

But we don't need to worry. * is president and the rapture will come soon.

NEW YORK (Reuters) - The dollar slid on Friday after Federal Reserve Chairman Alan Greenspan said foreign demand for U.S. assets, which has financed the country's massive current account deficit and propped up the dollar, would eventually fall.


In a speech at a European bankers' conference in Frankfurt, Greenspan said: "It seems persuasive that, given the size of the U.S. current account deficit, a diminished appetite for adding to dollar balances must occur at some point."


Greenspan also said the United States should help correct trade imbalances by cutting its record budget deficit or face painful consequences.


"Greenspan was far less upbeat in his assessment of the U.S. current account deficit," said Michael Woolfolk, senior currency strategist at Bank of New York.

http://story.news.yahoo.com/news?tmpl=story&cid=580&e=5&u=/nm/20041119/bs_nm/markets_forex_dc

He endorsed every single thing Bush did everything! I did not hear him warning us of this problem (we knew but maybe just maybe some retarded Bush Republicans would have listened to him) when Bush was putting us in this mess. Someone needs to retire the ass.

has been recommended for another term (I think it's 6 years). Will he even live that long? My God, with his swollen eyes and coke-bottle glasses over them, and his puffy lips ....jeez.

And our entire treasury is in the hands of this guy? An indentured servant to the BeelzeBush administration.

his soul to the BFEE.
Now no one will believe him, either...except for repukes, that is.

So, how low can the dollar go?

...Greenspan said: "...given the size of the U.S. current account deficit, a diminished appetite for adding to dollar balances must occur at some point."...

he tells the truth.

Cut social programs and crime will ultimately skyrocket.

Keep on with more wars, frivolous spending, more tax cuts, and claiming there is no need to reduce spending will ultimately render the rich to be nearly as poor as the rets of us.

I think the diminished interest in the dollar has already started. How much further depends on who does what next.

Clearing up trade imbalances and giving Americans well paying jobs are a good start to fix the mess Reagan created.

After all, Jesus is coming in a week or 2, so who cares?

IT'S ALL YOURS *!!


G20 opposes "abrupt changes" in forex, oil; Iraqi debt relief on way

BERLIN (AFP) - The Group of 20 finance chiefs agreed that "abrupt changes" in foreign exchange rates and oil prices were unwelcome but showed no appetite for intervention to strengthen the US currency.

Concerns about the weak dollar and high oil prices hung over the first working sessions of G20 finance ministers and central bank governors at a weekend forum in the German capital.

~snip~

Eichel said everyone had to play his part in helping to correct the global economic imbalances.


He said necessary measures included "budgetary consolidation in the United States -- (US Treasury Secretary) John Snow explicitly agreed with that -- growth-promoting structural reforms in Europe and in Japan, and more (currency) flexibility in Southeast Asia".


"Those are generally the tasks that everyone has to solve and that everyone agreed to around the table," he said.

more: http://story.news.yahoo.com/news?tmpl=story&u=/afp/20041121/ts_alt_afp/g20_economy_bank_forex&cid=1506&ncid=1480

ass will get the attention of smoe of Bush's mindless followers, but more than likely he will find a scapegoat somewhere, somehow, and they will slurp it up.