ARS on Twitter
RSS
Worst economy EVAH!
Posted by Duncan on August 11th, 2008
The dollar index, which measures its value against a basket of six major currencies, put in its best performance for over three-and-a-half years last week and boosted the dollar to its highest level for four months.
Against the euro, the dollar surged more than 5 cents, taking it more than 6 per cent higher than the low it hit last month.
Amid thin August volumes, traders believe there will be impetus to push the euro-dollar rate below the $1.50 barrier from its Friday figure of $1.5014 and to send sterling-dollar towards $1.90, consolidating last week’s 2.9 per cent fall to $1.9189.
Analysts say the turn towards the dollar reflects surprise that the fallout from the credit crisis has had such a marked effect on economies outside the US.
They say other central banks, unlike the Federal Reserve, have been slow to respond to a potential slowdown, refusing to cut interest rates as they focus on fighting inflation.
YAY! Good news ’bout the economy…. bad news for the Dhimmi’s and the Messiah™. The article also goes on to talk ’bout how the other world economies are expecting their own downturns in the near future.
August 11th, 2008 at 11:38 am
I think three things have happened over the past yr or so that have led people to believe the economy is poor.
1) Gas prices.
2) The “housing crisis”.
3) The very recent bank failures.
Gas prices have caused many prices of goods to go up- food for example.
Housing crisis has led to tighter credit ratings and therefore people cannot get loans as simply as they were used to. The bank failures mostly “confirmed” people’s thinking on it all.
The media and the left have done a good job at scaring people into thinking the economy is bad, the dollar is worthless- and to many people, the dollar buys them less and less, so they’re seeing their income get siphoned away more and more.
I would not say the economy is BAD- but it ain’t good either. It’s not a recession by any means. And certainly not a depression.
August 11th, 2008 at 4:16 pm
Run for hills!!
August 11th, 2008 at 9:50 pm
I’m not running anywhere. Things aren’t bad for me…I’m annoyed at the price of gas. But that is it.