Thursday, September 20, 2007

The plummeting U.S. Dollar

Five years ago, when my family and I went to Canada to visit the extended BHG family, we could count on a great exchange rate (for us), with the Canadian dollar trading at about 62 cents U.S. Today, the two currencies reached parity, with a likelihood that the Greenback will continue its collapse, allowing the Loonie (Canadian dollar) to be worth as much as $1.20 U.S.:

This is one of the major unreported stories right now. The collapse of the U.S. dollar is emblematic of our profligate government spending, national debt and a trade balance that is so unfavorable that it borders on the absurd.

You know what this says to me? Either we get our government debt and spending in control, which will cause a lot of financial pain to a lot of people, or we head for economic collapse, which will cause a lot more people a lot more financial pain. Pick your poison............

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