Tracks in the snow
Yesterday's Le Temps, a daily in the Geneva media market, headlined "What can be done about the fall of the US Dollar?". Inside was a long piece on China's alarm (at the Party Chair level and on record) at the decline of value of China's investment portfolio in dollar denominated accounts.
Today the news is that the Euro has cross the $1.48 point, and that crude oil is at $99 per barrel, that FreddieMac and FannieMae et al are coming unglued, ...
From Switzerland, George Bush's USA looks like an economic wreck. One of my collaborators said over fondue yesterday evening "You're American, didn't you realize that the price of oil would go up when you attacked Iraq?"
Comments
Ha, ha, ha.
The folks in charge make me *wish* we were ruled by real plutocrats. Real plutocrats, for all their ills, have the Red Tory worry that these idiots lack.
On the bright side, they may have sown the seeds for their own trust funds' destruction.
Here's hoping.
Posted by: wcw | November 21, 2007 11:33 PM
No, no, no, wars pay for themselves. Weren't the Europeans listening during the ramp up phase to the war? Or were they allowing that darn liberal history education to get in the way? If we recite 'everything is good, there are no dark clouds on the horizon' often enough doesn't it come true?
Posted by: Hawise | November 22, 2007 10:12 AM