Sunday, February 15, 2004

I'm ready to wake up from this nightmare now

What kind of alternate universe do you need to live in to believe that a weak dollar is good for the country?

Treasury Secretary John Snow has tacitly but unmistakably abandoned Washington's longstanding support for a strong dollar in favor of a weak dollar that is getting weaker, though he continues to insist there has been no change in policy.

Stripped of the code words and elliptical references to "excessive volatility" in exchange rates, the message that Snow delivered over the weekend to finance ministers from Europe and Japan was that the dollar's plunge against the euro is just fine and that the dollar should now decline more rapidly against Asian currencies as well.

It's going to be *very* fucking interesting in this country when all of the smug fuckers who think we're on top of the world finally realize that Bush sold the country out from under us.

On the bright side, once we become an economic backwater there will be jobs again, when all of the other countries open sweat shops here to take advantage of the cheap labor.