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January 30, 2005

Comments

denkpass

Someone ought to check this, but I think the downward spiral of the dollar has something to do with countries, banks and big investors switching to the Euro as their currency. And as far as I have heard, the oil exporting countries think about following that example...

David

@Pedro-
You are quite right, but the question is why are they switching to the Euro? Two reasons: the massive trade imbalance in tne US tha only gets worse each month, and the historic budget deficits created by the tax cuts. Both can be blamed on the fiscal mismanagement of Bush and the Republican-controlled Congress.
David

Arthur

Yes, interesting that most Germans do trust Putin more than Bush. Good luck in Russian hegemony. Hopefully Putin will make some progress in democracy in Grosny like the US Baghdad and in the Arab world.
Don't forget, Poland and Romania and Ukraine do not trust the axis Paris, Berlin, Moscow.

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