The Republicans and Wall Street ran the country into ruin by building a glut of housing and commercial buildings. Then they turn around and decide it is a shame the USA dollar can't retain its value due to fears over a housing crisis.
Is everything in the media hype? Does it ever get real anymore? Or does the global financial community still believe they can do this all over again if they only had enough 'risk taking' by Americans again with backign from their government?
Where does the hideousness of this reality stop? The American people are rebulding their economy ALONE. It isn't going to happen overnight. There is no LOOSE credit anymore due to necessary tightening of lending laws. I mean the geniuses that caused this disaster are nore now wondering what happened to the USA? Really?
The real question is, do they care?
AUGUST 24, 2010
12:51 P.M. ET
WORLD FOREX: Dollar Down; US Housing Data Feed Recovery Fears (click title to entry - thank you)
By Frances McInnis Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--The dollar lost considerable ground Tuesday after U.S. housing data for July came in well under expectations and raised further doubts about the pace of the U.S. recovery.
The euro reversed its slide against the dollar, rebounding above $1.27. Other higher-yielding currencies, such as the Canadian and Australian dollars, pared earlier losses but remained down on the day.
The U.S. currency had extended its losses against the yen in the immediate aftermath of the housing data, falling to Y83.58, its lowest level since June 1995, but it then pulled back above Y84. In earlier trading, the dollar had dropped through a series of 15-year lows as investors probed the determination of Japanese authorities to hinder their currency's advance.
The dismal housing data prompted "a broad knee-jerk reaction against the dollar," with concerns growing that the Federal Reserve will take further steps to stimulate the economy, said Brian Kim, currency strategist at UBS in Stamford, Conn....
