RIP: The American Dollar (Or Why You May Be Able to Use Your Paycheck to Wipe Your Butt RSN)

Well, the ruination of the economy and the labor market the Bush-Cheney Administration worked very hard to bring about in record time between the December day they stole the election from Al Gore in 2000 and the first 100 days of them "presuming" office in January 2001, and continued throughout their absolute monarchy is almost complete.

We've already seen - for the first time - economists in many other lands besides our own say the American dollar is increasingly useless and is shunned compared to many other emerging players like China and yes, even Iran and the Euro. Also a firstie: the Canadian dollar has become (significantly) more valuable than its U.S. counterpart, a phenomenon many said would never happen. We've seen the middle class grow poor and more home foreclosures in this country than at any time since the stock market crash and resulting economic phenom known as "The Great Depression" began in 1929. [As Bush would say, look at the good side: at least poverty is up and those we owe money TO are making huge additional money in obscene charges for debt).

Now, many are saying flat out that the dollar's days are numbered, which means ours as an economic superpower also are numbered. I can't help but think that it's all too apt to say that the buck stops with Bush and Cheney, because it quite literally may, even before they leave office on January 20th, 2009.

Here's one example of the dollar's funeral dirge submitted by Reader Sharon (whose typing is only slightly better than her marksmanship).

As Bush's Empire "Rises", Ours Falls Drastically

Positive you don't want to impeach this entire Bush Administration?

Everytime he opens his mouth about Iran, the crude oil price per barrel skyrockets and his "economic" genius has created what is arguably a much worse set of financial circumstances for many Americans than what happened during in the wake of the 1929 stock market crash and the coming of the great depression. 439 days more is an AWFULLY long time.

From The New York Times:

Stock markets plummeted and the dollar sank to as investors grew skittish over rising oil prices and the prospect of a substantial U.S. economic slowdown.

What A Surprise: Mortgage Companies Are Padding Fees On Struggling Homeowners

I note that this Times article about how mortgage companies are playing fast and loose by tacking on extra fees and pretending to lose (to the point of destroying more than a half million dollars in checks to pay mortgages) payments. Countrywide, my former lender, is noted here and indicates it makes about $300 million a year just in late fees.

Ah, if you haven't heard, people in other countries are rushing their dollars over here to buy up foreclosed properties (including many homes and defunct subdivisions-in-the-building) what with the American dollar taking a hit all over the place. Even Canada is here buying up things since, for the first time ever, the Canadian dollar is worth a good chunk more than its U.S. counterpart.