This is your dollar.
This is your dollar on Obama:
APRIL 23, 2011
Dollar’s Decline Speeds Up, With Risks for U.S.
BY TOM LAURICELLA
The U.S. dollar’s downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency.
With no relief in sight for the dollar on any of those fronts, the downward pressure on the dollar is widely expected to continue.
The dollar fell nearly 1% against a broad basket of currencies this week, following a drop of similar size last week. The ICE U.S. Dollar Index closed at its lowest level since August 2008, before the financial crisis intensified.
“The dollar just hasn’t had anything positive going for it,” said Alessio de Longis, who oversees the Oppenheimer Currency Opportunities Fund.
The main driver for the dollar’s decline is low interest rates in the U.S. compared with higher and rising rates abroad. Lower rates mean a lower return on cash—and the pressure from that factor could intensify next week when the Federal Reserve’s rate-setting committee is expected to signal that U.S. short-term rates will likely remain near zero for many months to come. On Wednesday, Fed Chairman Ben Bernanke is scheduled to give the central bank’s first-ever press conference following a policy-setting meeting.
But it is worry about the U.S. budget deficit that is intensifying the selloff. On Monday, investors were spooked by a warning from Standard & Poor’s that it might take away the U.S. government’s coveted AAA rating status amid concerns the Obama administration and Republicans in Congress might not be able to agree to significant reductions in the deficit.
In addition, Chinese government officials have stepped up rhetoric hinting they might diversify their $3 trillion of currency reserves away from U.S. dollars. Such a shift would chip away at what has been a substantial source of dollar-buying in recent years.
I dare say that the Wall Street Journal got it wrong this time. While it certainly might be technically true that the immediate driver of the dollar’s decline is ” is low interest rates in the U.S. compared with higher and rising rates abroad,” that is only a symptom of the ultimate cause of the dollar’s decline. The bigger picture can be summed up in two words: quantitative easing. Obama’s Federal Reserve is creating money out of thin air. And with more dollars chasing the same amount (and actually fewer) finite goods and services, the value of each dollar devalues.
A week is a long time in Obama’s God damn America. A fool-in-chief can do a lot of damage in a week:
APRIL 29, 2011
Dollar Skids to New Three-Year Lows
By JAVIER DAVID
NEW YORK—Investors wasted no time in sending the dollar to new three-year lows after the Federal Reserve gave them little reason to support it.
Weak U.S. growth and unemployment data quickened the dollar’s fall. Initial employment claims jumped back above the 400,000 level in the latest week. Meanwhile, gross domestic product data showed that economic growth slowed sharply in the first quarter, led by surging food and energy costs that sent a key gauge of inflation, the personal consumption expenditures (PCE) price index, soaring to its highest level in nearly three years.
Late Thursday, the euro was at $1.4821 from $1.4794 late Wednesday. The dollar traded at ¥81.54 from ¥82.04, while the euro was at ¥120.85 from ¥121.37. The U.K. pound bought $1.6640 from $1.6636. The dollar fetched 0.8733 Swiss franc from 0.8738 franc, plunging to a new record low.
The ICE Dollar Index, which tracks the U.S. dollar against a trade-weighted basket of currencies, was at 73.12 from 73.519, its lowest level since July 2008.
Has Obama made our economy better? Really? You’ve been watching and reading mainstream media propagandist lies, haven’t you? Here’s the reality: our dollar situation is every bit as bad now as it was when the terrible economic implosion of 2008 hit us. That giant sucking sound you hear all around you is the value and purchasing power of your dollar sinking into the abyss.
Here’s another major economic indicator going right down the toilet:
Home price gains since spring 2009 vanish
The Standard & Poor’s/Case-Shiller index for 20 major U.S. cities in February comes close to its previous bottom reached in April 2009.
By Alejandro Lazo, Los Angeles Times
April 26, 2011, 5:06 p.m.
The home price gains made after the housing market bottomed in spring 2009 have vanished, with 10 cities posting fresh lows in February, according to a closely watched index that tracks home prices in America’s biggest metropolitan areas.
The Standard & Poor’s/Case-Shiller index for 20 major U.S. cities, released Tuesday, came within a hair of its previous bottom hit in April 2009. The renewed drop in home prices indicates the nation’s housing woes continue despite a recovery in the broader economy.
“There is very little, if any, good news about housing. Prices continue to weaken, while trends in sales and construction are disappointing,” said David M. Blitzer, chairman of the index committee at Standard & Poor’s.
Foreclosures remain a significant part of the market and probably will remain so for the foreseeable future as borrowers continue to fall behind on their mortgage payments.
Patrick Newport, U.S. economist for consultancy IHS Global Insight, wrote in a note Tuesday that the decline in the index and drops in other home price measures — specifically a monthly index produced by the Federal Housing Finance Agency, which has seen steady declines in recent months — indicate that the housing slump is once again widespread.
The federal agency’s index’s “recent decline indicates that the vicious cycle in which falling prices lead to more foreclosures which lead to even lower housing prices, continues to play a role in keeping housing on the mat,” Newport wrote.
The Case-Shiller index has fallen to nearly the same level it was in April 2009, the last time it bottomed, evaporating the gains made last year after a popular tax credit for buyers fueled sales nationally. Experts predict prices will continue to fall this year, pushing past their previous lows into a much-feared double dip.
The only thing propping up the economy under Obama’s morally and fiscally idiotic policies is QE2. Banks and major businesses are not being allowed to fail (it’s all too big too fail in an increasingly fascist system in which the government dominates the banking and corporate spheres). Right now, the system Obama has only made more broken is being kept afloat in cash being created out of thin air. The last time quantitative easing ended, the DOW immediately lost 16% of its value in two weeks. And QE2 is set to end in June.
This means QE3, and then of course QE4. Because “QE” means “Quack Economics” far more than it should mean anything else.
The following video WAS a fictional account warning us of what could happen. But it is about to become news before history confirms it:
And do I really have to say anything about gas prices? Gas was $1.79 a gallon when Obama took office; it is now $3.91 and going up every single day. That is an increase of more than 118%. How’s that hope n’ change workin’ out for ya?
Wheat prices have more than doubled. These are basic staples used in everything.
Food costs more than at any time since 1974. And it’s going to get much, much worse. Prices for food and meat are going to soar in the coming days.
Liberals say they care about the poor. But they don’t give a damn about the poor. All Democrats want is to “fundamentally transform” America into a socialistic system where they can maintain power forever.
The other thing to say about the above is that Gerald Celente predicted in 2008 that food riots and revolution would overtake America by 2012. I pointed out in a recent article that what he said is exactly coming to pass both here and around the most flammable region on earth.
And all the unrest you’re seeing around you is simply the Cloward and Piven strategy for bringing about the downfall of the United States of America finally coming to pass exactly like the left wants, and exactly like people like me were talking about for the last two years.
Nobody’s really telling you about what’s happening or about what’s coming. And that’s mostly because nobody wants to hear about it.
When Adolf Hitler seized power (he never took more than 37% of the vote, but that doesn’t stop a big government tyrant from seizing total power), he began to ruthlessly suppress dissent. Today, the Democrat Party has pushed on attempt to impose one euphamistically-named “Fairness Doctrone” after another to shut down competing voices, even as Nancy Pelosi now demands a system in which “elections shouldn’t matter so much” in the aftermath of the one that drove her from power).
I think of one journalist named Stephen Laurent who was impriosoned for trying to tell the truth about Hitler. He wrote:
“I am writing this from cell 24. Outside a new Germany is being created. Many millions are rejoicing. Hitler is promising everyone precisely what they want. I think when they wake to their sobering senses, they will find they have been led by the nose and duped by lies.”
And that is where America is heading. Only there will be no America to rebuild America the way the United States of America rebuilt Germany in the aftermath of Germany reaping its whirlwind after sowing the wind. Obama himself will have seen to that.
The funniest thing about this – if anything about America turning into a socialist banana republic is “funny” – is that it will be the left who so rabidly despise the Word of God (otherwise known as the Holy Bible) who will bring about it’s ultimate fulfillment.
The beast is coming. He will be a one-world global leader who will take over in the catastrophic aftermath of false messiahs like Barack Hussein Obama. He will be the personification of the United Nations and globalism and a world without borders and all the other total idiocy the left has been jabbering about for decades. He will represent the sum total of everything the liberals have ever yearned for.
The secular humanist left has said that if they could just take over, they would create a humanist Utopia. God is going to give them their chance in the Tribulation with the big government Utopia of the Antichrist.
And in just seven years he will have brought a literal hell on earth.
It will be the left – it will be the people who most hate and despise and mock the Bible – that brings about all of the end times prophecies of the very Bible they so ridicule.
Barack Obama is an example of the sneering tone of the left toward the Word of God:
Which passages of Scripture should guide our public policy? Should we go with Leviticus, which suggests slavery is ok and that eating shellfish is abomination? How about Deuteronomy, which suggests stoning your child if he strays from the faith? Or should we just stick to the Sermon on the Mount – a passage that is so radical that it’s doubtful that our own Defense Department would survive its application? So before we get carried away, let’s read our Bibles. Folks haven’t been reading their Bibles.
But I have been reading my Bible, President Obama. And I’m seeing more and more reasons to believe it and accept it as God’s Word about a time which is now at hand.
I see the dollar devaluing to nothing; I see the cost of food skyrocketing. And I consider the words of the book of Revelation:
“He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead, so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name” (Revelation 13:16-17)