Thursday, October 13, 2005

pictures of american presidents (1.6.05)

The economy is rather problematic; that is, if you are a
resident of the United States. The dollar is not as powerful as it
used to be. Currency exchange rates and our penchant to
borrow from abroad have lead to these concerns. As things
stand, the picture does not appear to be improving anytime
soon. There is an increase in requests for unemployment
benefits and the U.S. has not engendered any new development
of economic capital within its borders to create employment
for an already large and ever expanding populace,
although the president just signed a $388 billion pork-filled
bill to keep the government up and running for another fiscal year.
As we continue to borrow and increase our national deficit,
China—where the current value of the Chinese yuan is
8.3 to one U.S. dollar—is sitting pretty and set up to
make an appealing penny, as well as create a strong
boost for their own economy by flooding the U.S. with cheap
imports.

Other countries may be in dire economic times, but we, as
our forefathers might say, are up a creek without a paddle.
Surely, we can recover, but how long will this take? Add to
the aforementioned the open-ended cost of occupying Iraq,
and unstable energy prices at the consumer level. We should
all expect a deluge of pink slips in our communities. This is
because the world, especially the folks from whom we borrow,
are weary of us forcing our views on other countries and no longer
want to accept U.S currency bearing minute pictures of American
presidents for their services and products, because the dollar
has no value. –torrance stephens

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