Dollar falls again as reality rears its ugly head

August 1, 2011 06:19

The political game will raise the debt ceiling but that is not solving the problem. The bigger problem is continuing reckless spending. The leftist propaganda media harps about the threat of a bond rating downgrade but fails to tell us the rest of their threat. The important part is that we must cut at least $4 trillion or get a downgrade. Even cutting $4 trillion of a proposed $46 trillion spending plan over the next decade is grossly inadequate and we can’t even get that done.

After an initial bump the dollar continues to lose ground:

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