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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on February 26, 2008, 06:43:02 PM
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Last Updated: Tuesday, 26 February 2008, 22:40 GMT
Dollar falls to record euro low
The dollar is falling as investors worry about the US economy
The dollar has fallen to a fresh record low against the euro, after weak economic data renewed fears that the US economy may be facing recession.
After figures showed a sharp rise in US home foreclosures and another fall in American consumer confidence, the euro hit an all-time high of $1.50.
Traders say the Federal Reserve may have to cut interest rates again, which would further undermine the dollar.
Meanwhile, US crude oil rose $2.20 to a fresh record of $101.43 a barrel.
Five-year low
The latest sign of falling US consumer confidence came from the closely watched Conference Board survey.
The outlook for the economy continues to worsen and the risk of a recession continues to increase
Conference Board's Lynn Franco
It said consumer sentiment fell to a five-year low in February due to growing recession fears.
At the same time, the number of US homes facing foreclosure rose 57% in January compared with the same month of 2007.
Last month the Fed slashed interest rates to 3% as it tried to prevent the US economy falling into recession.
"With so few consumers expecting conditions to turnaround in the months ahead, the outlook for the economy continues to worsen and the risk of a recession continues to increase," said Lynn Franco, a director of the Conference Board's consumer research centre.
US interest rate cuts generally lower the value of the dollar as traders move to currencies with a higher rate of return.
RON PAUL IS LOOKING BETTER AND BETTER EVERYDAY.
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Why isnt George Bush in jail??? ??? He has to answer for this, and 9/11 someday.... >:(
He thought he could create the false housing bubble and he could get out of office before it crashed to reality.......Im glad he at least gets credit for destoying america singlehandidly!!!! :o
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that's correct, bush was praying his "housing bubble economy" would burst after he left office.
just like his WMD story................... WRONG AGAIN !
hahahaaa
Hopefully, McCain will pay for Bush II's boneheaded moves.
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Hopefully, McCain will pay for Bush II's boneheaded moves.
hahahahah
everyone is going to pay >:(
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I think McCain would have a heartattack 3 months in into a presidency.....who would the Vive pres be??
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hahahahah
everyone is going to pay >:(
No. There's a Beatles song about it. SOmething about the rich getting richer and the poor getting poorer.
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Its not just Bush (though he is certainly not helping), its various aspects of the government and decisions by the federal reserve. This link was in another thread but check it out:
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Greenspan was appointed by the other king of deficit spending, Ronald Reagan.
More reasons for Republicans to be proud of their "conservatism."
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Greenspan was appointed by the other king of deficit spending, Ronald Reagan.
More reasons for Republicans to be proud of their "conservatism."
Neo Cons are the new Republicans.
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Neo Cons are the new Republicans.
Why don't you qualify your oneliner about Hungarians? Or did you forget about that?
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Why isnt George Bush in jail??? ??? He has to answer for this, and 9/11 someday.... >:(
He thought he could create the false housing bubble and he could get out of office before it crashed to reality.......Im glad he at least gets credit for destoying america singlehandidly!!!! :o
hey watcha know..fatty and i agree...
I'M GONNE PUT THIS IN CAPS FOR THE DUMBFUCKS...YOU CANNOT SPEND A FEW TRILLION ON A WAR AND NOT EXPECT A FALLOUT IN THE SHAPE OF A RECESSION
and o..is BUSH gonna suffer the recession?
THANKFULLY THE FOLKS THAT VOTED FOR HIM WILL FOR THE MOST PART!
me and mine r well off..poetic justice..fucking great! i hope their kids end up on the streets and their daughters end up as $50 whores and i'll sit on my high IT bubble horse and enjoy the irony! (maybe jesus will come to teh rescue lol) 8)