The U.S. dollar slid against most major currencies Wednesday,
hitting a five-month low of US$1.3775 against the euro and
pushing the Canadian dollar up US1.21¢ to a seven-month high of
US87.69¢.
John Curran, the senior corporate dealer at Canadian Forex,
said the U.S. dollar would likely fall further in the next
week, with the Canadian dollar likely reaching about US88.35¢,
at which point it could break higher to test the US92.35¢
level.
"The U.S. dollar is continuing to slide as investor appetite is
gaining momentum," Mr. Curran said. "People are getting
comfortable about taking on a little more risk."
The rise in the Canadian dollar has moved in lock-step with the
improvement in equity markets since March 9. Over this time,
the S&P 500 has risen by 34%, the S&P/TSX composite
index has gained 35% and the Canadian dollar has increased by
14%, equal to almost US11¢. Since Feb. 18, light-crude oil has
risen by 46% to US$62.12.
But as risk appetite and equities improve, Mr. Curran said it
was unlikely the U.S. dollar would embark on a long-term
decline.
"While things are beginning to thaw, it doesn't mean it's
full-on summertime just yet," he said. "A lot of people are
looking for the Canadian dollar to strengthen dramatically
again towards par. I'm not sure about that just yet."
Nevertheless, concern has been mounting that the increasing
U.S. debt load, as well as a potential inflation time bomb in
the form of the quantitative easing, could drag down the
greenback. Garnering attention is the risk the United States
could lose its triple-A sovereign credit rating, which reflects
the chance of the borrower defaulting on its debt.
"By many measures, the U.S. appears just a few short steps away
from losing its coveted triple-A status, unless the recovery
turns out to be considerably stronger than expected and the
fiscal repair is faster than commonly expected," said Douglas
Porter, deputy chief economist at BMO Capital Markets. "A
downgrade could boost the cost of funding U.S. debt at the
margin, but underlying inflation and fiscal fundamentals will
ultimately be the primary driver."
We've got a deficit of about $2 trillion this year. At
least $1.2 trillion next year. About $10 trillion in
expected red ink over the coming decade. Then there's
Medicare and Social Security going bust.
…currency and financial reputation continue to fall. The U.S. dollar slid against most major currencies Wednesday, hitting a five-month low of US$1.3775 against the euro and pushing … Read the rest of the article here Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages. This entry was posted on Monday, May 25th, 2009 at 5:33 am and is filed…
Murphy| 5.25.09 @ 8:57AM
Actually, Bandow, a Banana Republic is not primarily defined by
debt or deficit.
It's defined by a sham political culture that functions for a
tiny elite of rich people. A Banana Republic is one in which a
small junta has succeeded in shrinking the government so much
that it could be "drowned in a bathtub." Banana Republics are
irresponsibly governed. The political class of a Banana Republic
does not have the public good at heart, because it believes
concepts like the "public good" are socialistic mumbo jumbo.
Banana Republics have conservative governments.
…currency and financial reputation continue to fall. The U.S. dollar slid against most major currencies Wednesday, hitting a five-month low of US$1.3775 against the euro and pushing … Read the rest of the article here Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages. This entry was posted on Monday, May 25th, 2009 at 5:33 am and is filed…
…currency and financial reputation continue to fall. The U.S. dollar slid against most major currencies Wednesday, hitting a five-month low of US$1.3775 against the euro and pushing … Read the rest of the article here Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages. This entry was posted on Monday, May 25th, 2009 at 5:33 am and is filed…
Old Texican| 5.25.09 @ 9:45AM
(Chuckle)
Doug, don't you just love explaining to children why grass is
green and the sky is blue?
My understanding is that "banana republics" oscillate between
oligarchies of one stripe or another.
Well, we certainly seem to be creating an oligarchy...of gubmint
workers/politicians sure enough.
Now anti-military.....perhaps next...military?
Currency and credit ratings collapse is one of the recognized
results of such.
Boy, the whole world would surely miss pax-Americana!
As we attempt to spend and borrow our way to prosperity, America’s currency and financial reputation continue to fall. Reports the Financial Post: The U.S. dollar slid… → Read full article… America: The Next Banana Republic? Related Post: Gap Names Merchandising Head At Banana Republic The Fallacy of Stimulus Spending Senator Gregg Criticizes ‘Banana Republic’ Budget Proposal Daily…
Oldefarte| 5.25.09 @ 10:54AM
Murphy, the only "mumbo jumbo" are your words. Assording to
Wikipedia, a "banana republic" precisely describes our country at
present ["...In modern usage the term has come to be used to
describe a generally unstable or "backward" dictatorial regime,
especially one where elections are often fraudulent and
corruption is rife. By extension, the word is occasionally
applied to governments where a strong leader hands out
appointments and advantages to friends and supporters, without
much consideration for the law. A banana republic can also be
used to describe a country where a large part of its economy and
politics are controlled by foreign powers....."] Our current
leader is dictatorial, his election was fraudulent, his
administration is corrupt, and he hands out appointments and
advantages to friends and supporters. Additionally he is
inconsiderate of the law by attempting to bring terrorists into
our country for imprisonment. Oh, and as to having this country
controlled by foreign powers, that's coming in the near future.
Tell the TRUTH, Murphy!!!!!!!!!!
Old Texican| 5.25.09 @ 10:56AM
Oldefarte
He simply doesn't know the truth. He is a "poster boy" for the
scroll down dial on your mouse.
Heh!
Murphy| 5.25.09 @ 11:21AM
Fart --
Please explain -- on this Memorial Day -- how it is you construe
our government as dictatorial.
The mere fact that people on the right expend half their energy
accusing the government of tyrrany is proof that such a tyrrany
does not exist. Did it, jack booted thugs would crash into your
home and drag you off to a secret prison somewhere.
How was our election corrupt? Unless your definition of a good
election depends upon a standard of purity unattainable when 125
million votes are to be cast, I hardly see how you could call our
elections corrupt.
Banana Republics -- if you look to history and sound reporting,
and not Wikipedia -- are characterized by WEAK governance, not
strong. All weak governments rely on force and coercion -- that's
the hallmark of weakness. (Torture, too.)
Oligarchies demand that the rule of law be subverted for their
own economic convenience. The governments of banana republics are
groups of cowed poltroons, who tremble in "undisclosed locations"
waiting for "the enemy within" to take them out in yet another
coup.
The language of banana republics is fascistic, reactionary -- and
much like what we get from the American Spectator, Rush Limbaugh,
and that blubbering swine, Glenn Beck.
Murphy| 5.25.09 @ 11:30AM
By the way, is America the same Banana Republic that Governor
Perry just appealed to for flu medicine, or that the Republicans
of Alaska turn to for billions in pork spending every year?
Just curious.
Murphy| 5.25.09 @ 11:42AM
Another characteristic of Banana Republics is their consistent
anti-union ideolgy.
Middle classes form where there are unions. Fact of history.
There's no middle class in El Salvador, a purely capitalist
nation if ever there was one.
A secure middle class is dependant upon strong unions. Only the
fascists disagree.
Old Texican| 5.25.09 @ 1:23PM
OKOK
Sonny, the reason the sky is blue is because of
difraction.............scratch that!
...The sky is blue because of President Obama.
Grass is green due to that remarkable substance called
chlorophyll that has the ability.......Scratch that!
The Grass is green because Mr. Obama likes green. Our green
$$.
(No...guilds, yeomanry, Greek helots, and Roman Citizen traders ,
and nomadic freemen from the dawn of time will do for a "middle
class".)
Roy| 5.25.09 @ 2:05PM
"A secure middle class is dependant upon strong unions. Only the
fascists disagree. "
This ranks among the rawest specimens of narrow-minded, bigoted
idiocy I have ever seen.
Old Texican| 5.25.09 @ 2:14PM
Hi Roy
Hang in here awhile. Heh! You will see stuff that makes that
idiocy seem mild of raw.
See, non-productive people see NOTHING wrong with spending your
tax dollars for their computers and internet access.
My only question is who pays for it before they get their gubmint
check.
Oldefarte| 5.25.09 @ 2:28PM
Murphy: I'll defer to the American automobile manufacturers,
banks and and the bond holders of same to "construe our
government is dictatorial", in their dealings with our present
government. As to your "crash into your home and drag you off to
a secret prison somewhere", I presume that will come about in the
near future, unless we all join in and sing the praises of THE
ALMIGHTY ONE. As to your inability to "hardly see how you could
call our elections corrupt", I guess you have not seen the
reports in numerous states detailing the practices of an
organization known as Acorn, Rainbow Push and others; about how
billions of the recent government's stimulus money is going to
Acorn; about how ballot stuffing was rampant in New Orleans'
recent mayorial election or in Minnisota's recent senatorial
election; about how this country's CHICAGO STYLE LITE
administration is allowing unions to take over the American car
companies, is backing off enforcing immigration policy to
futuristically benefit election of Democrats,etc? Yea.
Murpdummie, strong governments should avoid "WEAKNESS",
especially those countries such as Nazi Germany, Hussein's Iraq
and Chavez's Venesuela; that ALL depend on imbicilic fools such
as yourself into drinking their dictators' kool-aid and marching
lock-step in unison behind your "revered" leaders [sound familar
dumbars?] Morons such as yourself allow dictators to brainwash
your ignorant minds [with the assistance of their captive MSM]
and go, hand-clasped [ie Thelma & Louise] off the cliff's
edge!!!!!!!!!!!!!!!!!!
Zowdu| 5.25.09 @ 6:01PM
Hi,
Great post....
There's a political website, called:
americanshow.tk
It has some interesting things that are almost as interesting as
this blog's stuff! I think you'd like it.
Thanks for the good post!
Zowdu
Marc Jeric| 5.25.09 @ 6:51PM
Goons and thugs dailycos and moveonorg and the ACORN brownshirts
have received orders to infect these conversations with
invective, namecalling, and revolutionary marxist rhetoric; we
should just ignore those creeps so full of their present power.
Unmeployment of 12% accompanied by inflation of 15% will speak
much more loudly to put a stop to the present banana republic -
just wait for elections in 2010 and 2012.
With new Supreme Court justices chosen on the basis of their
empathy we will also be privileged to smell new emanations from
the penumbras of our modernized Constitution aligned with the
laws of Zimbabwe, Venezuela, and Bolivia - as sanctified by the
United Nations. This will not pass for long in this country!
ruth| 5.25.09 @ 9:51PM
From your lips to God's ears, Mr. Jeric. God bless you, sir.
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Pingback| 5.25.09 @ 8:54AM
Online Forex Tips » Blog Archive » America: The Next Banana Republic? - Spectator.org links to this page. Here’s an excerpt:
Murphy| 5.25.09 @ 8:57AM
Actually, Bandow, a Banana Republic is not primarily defined by debt or deficit.
It's defined by a sham political culture that functions for a tiny elite of rich people. A Banana Republic is one in which a small junta has succeeded in shrinking the government so much that it could be "drowned in a bathtub." Banana Republics are irresponsibly governed. The political class of a Banana Republic does not have the public good at heart, because it believes concepts like the "public good" are socialistic mumbo jumbo. Banana Republics have conservative governments.
Pingback| 5.25.09 @ 9:26AM
Online Forex Tips » Blog Archive » America: The Next Banana Republic? - Spectator.org links to this page. Here’s an excerpt:
Pingback| 5.25.09 @ 9:36AM
Online Forex Tips » Blog Archive » America: The Next Banana Republic? - Spectator.org links to this page. Here’s an excerpt:
Old Texican| 5.25.09 @ 9:45AM
(Chuckle)
Doug, don't you just love explaining to children why grass is green and the sky is blue?
My understanding is that "banana republics" oscillate between oligarchies of one stripe or another.
Well, we certainly seem to be creating an oligarchy...of gubmint workers/politicians sure enough.
Now anti-military.....perhaps next...military?
Currency and credit ratings collapse is one of the recognized results of such.
Boy, the whole world would surely miss pax-Americana!
Pingback| 5.25.09 @ 10:44AM
America: The Next Banana Republic? — ButAsForMe links to this page. Here’s an excerpt:
Oldefarte| 5.25.09 @ 10:54AM
Murphy, the only "mumbo jumbo" are your words. Assording to Wikipedia, a "banana republic" precisely describes our country at present ["...In modern usage the term has come to be used to describe a generally unstable or "backward" dictatorial regime, especially one where elections are often fraudulent and corruption is rife. By extension, the word is occasionally applied to governments where a strong leader hands out appointments and advantages to friends and supporters, without much consideration for the law. A banana republic can also be used to describe a country where a large part of its economy and politics are controlled by foreign powers....."] Our current leader is dictatorial, his election was fraudulent, his administration is corrupt, and he hands out appointments and advantages to friends and supporters. Additionally he is inconsiderate of the law by attempting to bring terrorists into our country for imprisonment. Oh, and as to having this country controlled by foreign powers, that's coming in the near future. Tell the TRUTH, Murphy!!!!!!!!!!
Old Texican| 5.25.09 @ 10:56AM
Oldefarte
He simply doesn't know the truth. He is a "poster boy" for the scroll down dial on your mouse.
Heh!
Murphy| 5.25.09 @ 11:21AM
Fart --
Please explain -- on this Memorial Day -- how it is you construe our government as dictatorial.
The mere fact that people on the right expend half their energy accusing the government of tyrrany is proof that such a tyrrany does not exist. Did it, jack booted thugs would crash into your home and drag you off to a secret prison somewhere.
How was our election corrupt? Unless your definition of a good election depends upon a standard of purity unattainable when 125 million votes are to be cast, I hardly see how you could call our elections corrupt.
Banana Republics -- if you look to history and sound reporting, and not Wikipedia -- are characterized by WEAK governance, not strong. All weak governments rely on force and coercion -- that's the hallmark of weakness. (Torture, too.)
Oligarchies demand that the rule of law be subverted for their own economic convenience. The governments of banana republics are groups of cowed poltroons, who tremble in "undisclosed locations" waiting for "the enemy within" to take them out in yet another coup.
The language of banana republics is fascistic, reactionary -- and much like what we get from the American Spectator, Rush Limbaugh, and that blubbering swine, Glenn Beck.
Murphy| 5.25.09 @ 11:30AM
By the way, is America the same Banana Republic that Governor Perry just appealed to for flu medicine, or that the Republicans of Alaska turn to for billions in pork spending every year?
Just curious.
Murphy| 5.25.09 @ 11:42AM
Another characteristic of Banana Republics is their consistent anti-union ideolgy.
Middle classes form where there are unions. Fact of history.
There's no middle class in El Salvador, a purely capitalist nation if ever there was one.
A secure middle class is dependant upon strong unions. Only the fascists disagree.
Old Texican| 5.25.09 @ 1:23PM
OKOK
Sonny, the reason the sky is blue is because of difraction.............scratch that!
...The sky is blue because of President Obama.
Grass is green due to that remarkable substance called chlorophyll that has the ability.......Scratch that!
The Grass is green because Mr. Obama likes green. Our green $$.
(No...guilds, yeomanry, Greek helots, and Roman Citizen traders , and nomadic freemen from the dawn of time will do for a "middle class".)
Roy| 5.25.09 @ 2:05PM
"A secure middle class is dependant upon strong unions. Only the fascists disagree. "
This ranks among the rawest specimens of narrow-minded, bigoted idiocy I have ever seen.
Old Texican| 5.25.09 @ 2:14PM
Hi Roy
Hang in here awhile. Heh! You will see stuff that makes that idiocy seem mild of raw.
See, non-productive people see NOTHING wrong with spending your tax dollars for their computers and internet access.
My only question is who pays for it before they get their gubmint check.
Oldefarte| 5.25.09 @ 2:28PM
Murphy: I'll defer to the American automobile manufacturers, banks and and the bond holders of same to "construe our government is dictatorial", in their dealings with our present government. As to your "crash into your home and drag you off to a secret prison somewhere", I presume that will come about in the near future, unless we all join in and sing the praises of THE ALMIGHTY ONE. As to your inability to "hardly see how you could call our elections corrupt", I guess you have not seen the reports in numerous states detailing the practices of an organization known as Acorn, Rainbow Push and others; about how billions of the recent government's stimulus money is going to Acorn; about how ballot stuffing was rampant in New Orleans' recent mayorial election or in Minnisota's recent senatorial election; about how this country's CHICAGO STYLE LITE administration is allowing unions to take over the American car companies, is backing off enforcing immigration policy to futuristically benefit election of Democrats,etc? Yea. Murpdummie, strong governments should avoid "WEAKNESS", especially those countries such as Nazi Germany, Hussein's Iraq and Chavez's Venesuela; that ALL depend on imbicilic fools such as yourself into drinking their dictators' kool-aid and marching lock-step in unison behind your "revered" leaders [sound familar dumbars?] Morons such as yourself allow dictators to brainwash your ignorant minds [with the assistance of their captive MSM] and go, hand-clasped [ie Thelma & Louise] off the cliff's edge!!!!!!!!!!!!!!!!!!
Zowdu| 5.25.09 @ 6:01PM
Hi,
Great post....
There's a political website, called:
americanshow.tk
It has some interesting things that are almost as interesting as this blog's stuff! I think you'd like it.
Thanks for the good post!
Zowdu
Marc Jeric| 5.25.09 @ 6:51PM
Goons and thugs dailycos and moveonorg and the ACORN brownshirts have received orders to infect these conversations with invective, namecalling, and revolutionary marxist rhetoric; we should just ignore those creeps so full of their present power. Unmeployment of 12% accompanied by inflation of 15% will speak much more loudly to put a stop to the present banana republic - just wait for elections in 2010 and 2012.
With new Supreme Court justices chosen on the basis of their empathy we will also be privileged to smell new emanations from the penumbras of our modernized Constitution aligned with the laws of Zimbabwe, Venezuela, and Bolivia - as sanctified by the United Nations. This will not pass for long in this country!
ruth| 5.25.09 @ 9:51PM
From your lips to God's ears, Mr. Jeric. God bless you, sir.
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