Thursday, April 28, 2011

Guest Article - Here's the Stats

Dollar Loses More Ground
By STEPHEN L. BERNARD - Wall Street Journal

"NEW YORK—The dollar dropped after economic indicators pointed to a dismal employment picture and slowing economic growth.

First-time claims for unemployment benefits jumped 25,000 to 429,000, indicating employers might have slowed their hiring recently. Economists were expecting claims to fall to 395,000.

At the same time, gross domestic product rose at a modest 1.8% pace in the first quarter, matching economists' forecasts. However, the pace of expansion is much weaker than it was at the end of 2010, when the economy was growing at 3.1% pace.

"Overall this suggests that the U.S. economy is slowing down a bit and that could potentially weigh on the dollar going forward," said Brown Brothers Harriman strategist Mark McCormick.

The euro was at $1.4827 from about $1.4794 late Wednesday. The dollar was at ¥81.48, from ¥82.04.

The dollar has been hammered recently, losing out on interest-rate differentials and regularly hitting multiyear lows against other major currencies. Losses were especially bad Wednesday after Federal Reserve Chairman Ben Bernanke indicated the central bank is far from tightening monetary policy as economic growth remains slow and unemployment remains high.

During European trading hours, the euro reached its highest level since December 2009 at $1.4882, while the Australian dollar hit yet another post-float high and traded at $1.0919."


What Does It All Mean?
You must have noticed how you are running out of money before the end of the month or before the next paycheck. It's no accident! It's now costing $50-70 dollars to fill up because Obama won't drill or use coal. You can BLAME the economic policies of the Obama administration plus, the inflationary actions created by Ben Bernanke, Chairman of the Federal Reserve Bank.

Between these two entities, Americans are being pulverized by BAD economic policies and deliberate de-valuation of the dollar. Don't blame anyone else. This is apparent. This is Obama's record. He can't blame this on onyone but himself! This is how Obama is "Fundamentally Changing America." Obama and his minions are deliberately doing this to America. They keep telling us all that everything is OK. Yeah? Look around. This isn't a recession - this is another Great Depression. Unemployment numbers reported by the government don't jive with those of the Gallop pole. What gives? The government is lying! This is a major re-distribution of wealth. The net result is that America's standard of living is being destroyed.

Action To Take
Do not re-elect Obama! In the mean time, tell Congress not to raise the debt ceiling and STOP SPENDING and BORROWING immediately.

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