Current Events — HabitableZone

Current Events

Solving the China import problem.

They will become too expensive for Americans to purchase. First indication, Bush's press conference. He said things are good, and he hasn't been right yet. Bernahke is another Petraeus, lip-syncing the folks who appointed him.

The US dollar is at near-parity with the Canadian dollar, and at a record low against the Euro. As if that's not bad enough, there's more. It ain't lookin' good for those interested in more bang for the buck.

"Fears of dollar collapse as Saudis take fright."
By Ambrose Evans-Pritchard, International Business Editor
Last Updated: 8:39am BST 20/09/2007

"Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East."

And the fate of US financial welfare is in the hands of others.

"China threatens 'nuclear option' of dollar sales."
By Ambrose Evans-Pritchard
Last Updated: 8:39pm BST 10/08/2007

"The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation."

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