As reported byReuters, American tourists in Amsterdam are having a tough time exchanging their dollars for local currency, because nobody wants to get caught holding worthless paper.
Tag: dollar
Dollar under pressure, wheat prices go up, and Bear Stearns may be bought out
The dollar touched a record low of $1.5651 against the euro and crude oil reached a record $111 a barrel. Grocery costs are expected to go up further with the rise in the cost of wheat. The price of wheat has more than tripled during the past 10 months, making Americans’ daily bread — and bagels…
It will take YEARS for the dollar to recover
Nobody wants the dollar. Even some stores in NYC are accepting foreign currency. I’ve said it before and I’ll say it again, start saving, start looking for ways to reduce your monthly expenditures (maybe less movies, less eating out or ordering in), hold off on buying luxury items, etc. Take public transportation whenever possible, instead…
Bush knows best
Let’s see, Bush says the country is not head into a recession. Yet today, the market fell 315 pts on recession fears, oil pushed past $103 for the first time, the dollar hit another low against the euro, US Midwest manufacturing activity “plummeted” in February, consumer setiment slumped to a 16 year low. Yep, Bush…
Recession is here
As I as said in an earlier post, we’re in a recession. And according to some, it will only get worse. The problem is, the government continues to print money, without any backing, continues to borrow money (such as for the stimulus package), and the OPEC countries are migrating away from the dollar, and moving…
Opposition group claims Iran speeding up nuke plans
Here we go again. An opposition group, like the Iraqi National Congress that provided “shaky” intelligence on Saddam’s WMD program, says Iran is speeding up nuke plans, contradicting the U.S. National Intelligence Estimate report that said Iran halted their program in 2003. Smells like another war front opening up. I predict it’ll happen before the…
Japanese investors dumping dollars
They think the dollar will slide even more, so most everday investors are dumping the dollar in the currency markets.
The Next Great Depression
Although the author advocates Ron Paul for president, who I doubt will get the nomination, he explains here why we’re heading into the next Great Depression, why we may be heading into WWIII with Iran, how inflation is likely, and how we will no longer be the world’s superpower.
Why we’ll be in Iraq for a while
Here’s a good old article, which explains: why we’re in Iraq today why we’ll be in Iraq for a while why Iran may be next why there will always be instability in the Middle East why we need a new energy policy, fast Basically, it’s all about the dollar and oil.