06/28/2002 Archived Entry: "Dollar falling hard"

While the public gets in a heat over the POA, and Lieberman & McCain dream of passing a constitutional amendment for "under God" to remain in the pledge, WorldCom goes down in flames, and the Dollar is falling. Our politicians fiddle while the US burns:

Dollar slides to brink of free fall
The currency came within a whisker of parity with the euro and crashed through key psychological barriers against the yen and the pound as investors rushed to dump dollar assets. "This is threatening to become a disorderly market. There's no better way to show a loss of confidence in a country than through its currency." David Bloom, global economist at HSBC.

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If DeLay and company are returned to power, we would have an economic depression. Time to vote the GOP out of office...at least at the congressional level. Actually, I am very concerned about the next four months.

Of course, thinks do not look good in the Senate even if the GOP fails to regain the majority...Daon Nickles is going to challenge Lott...I would hope that Chuck Hagel would step up to the plate rather than another southerner.

Posted by G.C. Raj @ 06/28/2002 10:02 AM PST