Wednesday, November 7, 2007

Thought this was Cool

Things that Make you go Ugh

"China remarks drive dollar lower
By Carter Dougherty
Published: November 7, 2007

Currency traders gave the dollar a thorough pounding Wednesday after a Chinese official suggested that the country could begin to diversify its huge foreign-exchange reserves."

Another sign of America's decline as a global power, when all a country has to do is make a "remark" and the dollar sinks lower still. High oil prices, run-away inflation and a sinking dollar. Things do not bode well for 2008.