Since the Bush gang took over, the value of the US dollar has lost about half it's value, dropping from 1.2 Euros in 2001 to about 0.6 today. The New York Board of Trade's dollar index is the weakest since the gauge began in 1973. This collapse in the purchasing power of the dollar has many consequences. It has put the entire US on sale for the rest of the world. Assets, stock, and even whole companies are being bought at bargain basement prices. Today, the Belgian brewer InBev bought Budweiser, an American icon and mainstay of St. Lewis. While foreign companies can maintain steady prices for the American consumer, American companies don't have that luxury against foreign investors.
The weak dollar is also a major reason that oil has reached record prices. After all, it takes about twice as many dollars these days for a Saudi prince to buy his Mercedes.
Posts
No comments:
Post a Comment