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The dollar last week dropped to the lowest in almost a year against the yen as record U.S. government borrowings and interest rates near zero sapped demand for the U.S. currency. The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners, has fallen 15 percent from its peak this year to as low as 75.211 today, the lowest since August 2008.
“We can no longer stop the big wave of dollar weakness,” said Uno, who correctly predicted the dollar would fall under 100 yen and the Dow Jones Industrial Average would sink below 7,000 after the bankruptcy of Lehman Brothers Holdings Inc. last year. If the U.S. currency breaks through record levels, “there will be no downside limit, and even coordinated intervention won’t work,” he said.
“The U.S. economy will deteriorate into 2011 as the effects of excess consumption
Originally posted by poedxsoldiervet
Easy solution here, Americans its time to suck it up, and buy made in the USA only. We have lost our manufacturing jobs to China and Asia and damn near every where else, if we cant count on our goverment to protect us we must do it ourselves... Its time to buy only American made products, made by our American brothers and sisters, FTW. We should boycott ever American Buisness who has sent American Jobs overseas, FTW. Its time to look out for America only now... FTW