I could be wrong—hell, most of the time, I’m way wrong. But I do think that today is the day the dollar breaks down.
Consider the evidence:
Meanwhile, on the eastern side of the Pacific pond, the Producer Price Index numbers came out yesterday—and they weren’t pretty. During February, PPI rose 1.6%, against a consensus estimate of 0.7%. For the year ending February 28, the PPI rose 5.6%. (rep
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| Get used to it. |
The Bank of Japan managed to keep the yen down following last Friday’s Sendai quake. It was trading in an eerily placid 81-to-82 band on Monday, Tuesday and Wednesday—but then Thursday (Japan time), someone at the BoJ must’ve prematurely decided that it was all over, because they let go of the gas.
What happened? It all went south—huge. As I write this morning (8:12am EST), the yen is trading at 78.50 to the dollar.
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I really don't want to be a witness to the economic collapse of the country, but knowing it's inevitable, the sooner it starts, the better. I have very few productive years left and these last 3 years have been like going to a California Emergency Room with broken arm, only to be told to take a seat and expect to wait at least 16 hours, while the doctors treat all the anchor babies with runny noses and ear aches, knowing full well that the illegal alien parents have no intention to pay the bill.
ReplyDeleteI would prefer the danger of anarchy, riots, looting and lawlessness than to have to endure another year of being told by Obozo (as he takes a break from his many vacations)that all is well and we're on the path to recovery.
Recovery will start when We the People have cleansed Capitol Hill and the White House and the Supreme Court of all the lairs, thieves and whores currently occupying those chairs. Only then will true recovery begin.
1:24 - Right on! Let's get the collapse over with! The sooner it happens, the quicker we can recover. Obozo is done; he will NEVER be re-elected. He makes Jimmy Carter look like the strongest President in American history!
ReplyDelete1:24 NEVER say never
ReplyDeleteOne Third of this entire country is on the Uncle Sugar express, courtesy of the annointed one.
Will they vote?
Your fucking eh they will
For their Suga DaDa
Remember this line from the Matrix
ReplyDelete"They are so hopelessly dependent on the system (welfare, food stamps, unemployment checks, subsidized housing, zero co-pay health coverage and such) they will fight to protect it"
These many millions of "hopelessly dependent" Americans will tell you, without the government's mailbox money and other forms of assistance, they will die. Noting should motivate a real man more than seeing his kids starving. Nothing will change until the mailbox money stops.
What a surprise. The day came and went and we are still here. I m getting very tired of the chicken littles who keep saying that we are doomed.
ReplyDeletePresident Obama knows what he is doing. We have no inflation. Unemployment is improving - in fact I predict 4% unemployment by January 2013. The stock market has almost doubled since his election. Gas prices are going down. Crime is down everywhere. He has brought peace to the world just as he promised. The only sitting president to ever be awarded the Nobel Prize--need I say any more? A year from now you people will still be waiting for the apocalypse. I will be campaigning for the president's guaranteed second term.
9:46 Amen Brother!
ReplyDeleteI hear he shot 85 today in Rio !
Wow! what a human being he is !
I think I want to have his baby!
What did GL mean by the dollar "breaks down"? If he means it heads down on a chart and never returns that high again, he could be right, but i'd be willing to place a small bet against. If he means we will look back at this day and mark it as the beginning of the hyperinflation, then I'd say he's about four to six months early barring further major disasters.
ReplyDelete