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"Moody's might be doing this based on the politics as much as the threat of default, because the politics have become so problematic," said Brian Dolan, chief strategist at Forex.com in Bedminster, New Jersey. "Between this and Bernanke talking about QE3, the dollar could be entering a new downward phase."
Quote:
Bernanke "is making it plain that QE3 is still in the Fed's mind and is on the table," said Douglas Borthwick, managing director at Faros Trading in Stamford, Connecticut.
"With a Fed on hold and contemplating more quantitative easing we see euro/dollar rallying and the dollar index dropping through the end of the year," he added.
It's surely Obama's fault. It has nothing to do with Congress's inability to compromise to get a deal down to increase the debt ceiling. It's also Obama's fault that Republicans didn't approve a deal that included $3 in cuts for every dollar in spending.
You seem to forget it's CONGRESS responsibility to appropriate funds and it's Republicans in Congress who REFUSE to compromise on a deficit reduction deal that is 80% to 85% cuts in federal spending and only about 15% to 20% revenue raising by closing tax loopholes for corporations and the richest individuals.
The Dollar and the Euro have been going on a roller coaster ride for the past two months. This isn't major news to anybody that watches the currency markets.
They have problems with Greece, Italy, Portugal, Spain and Ireland.
What conveniently you fail to mention is the absolutely devasting effect that not passing the debt ceiling will have on value of the dollar.
You also fail to mention this part of the article:
Quote:
Still, some analysts said the euro's strength could be quickly cut short. European leaders, set to convene an emergency meeting on Friday, have yet to agree on a second Greek bailout.
Moody's is threatening a downgrade because teabaggers are throwing a hissy fit about allowing tax breaks for millionaires and billionaires to be eliminated.
Moody's is threatening a downgrade because teabaggers are throwing a hissy fit about allowing tax breaks for millionaires and billionaires to be eliminated.
You mean allowing people and corporations from keeping monies they've earned and need if they are to create jobs and wealth? Is that what you mean?
Well, whether you are D or R it's OUR government that have their heads in the sand about our debt and our spending habits.
Raising the debt ceiling and talking about cuts 10 years down the road is not sound fiscal policy.
It's happy talk and does nothing to fix our problem today.
Moody's is threatening a downgrade because teabaggers are throwing a hissy fit about allowing tax breaks for millionaires and billionaires to be eliminated.
Yes, because Moody's was so useful rating mortgage securities.
Yes, because Moody's was so useful rating mortgage securities.
That doesn't matter. If everyone relies on Moody's ratings for decisions, no matter their accuracy, it still affects real wealth in the system and our financial status in the world.
You also fail to mention this part of the article:
Last time I checked there were copyright guidlines and one is not allowed to post too much in quotes from any one article. I failed to mention nothing.
As for the rest of your drivel......
http://www.cnbc.com/id/43748897 (broken link)
But hey, Obama might have yet another historical accomplishment if he gets his way: Junk bond status for the first time in US history! Winning the Future!
http://www.cnbc.com/id/43748858 (broken link)
Wait just a minute here..
Who is spending the money? What is the debit? Who controls and has supported the bailouts, who was spending money more then we take in. Reality is the FED is creating a inflation tax because the more they spend and or print dollars the value of our dollar goes down. FOOD prices GO up, and other prices are effected. This is the problem CENTRAL ECONOMIC PLANNING which got us into this mess. If you want to blame anyone is the fact that government republicans/democrats and the president think they have a RIGHT TO EVERYONES MONEY FOR GOVERNMENT PROJECTS non of which are authorized in the constitition. They believe the role of government is to take care of your from craddle to grave and to tell the world how they should live. When you think this way and have the FED creating disasters and economic bubbles which have destoryed our economy and now think raising taxes and or letting them spending more money is the solution. Its predictable and common sense of what they have been doing for decades now. Yet instead for political reasons we suddenly believe they know what is best for us and doing more of the same IE spending and taxing for solve anything. Cut government by 50% on everything and start dismantling the FED! WE are BROKE get out of the wars and close some bases if we have no money to defend ourselves from a REAL threat I see no common sense to bankrupting everyone and every project overnight.
Ron Paul 2012 for real leadership in the whitehouse and someone who actually knows what is really going on and PREDICTED THIS FAILURE!!!!
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