May 07, 2006
The predictable Dow headlines arrive -en masse!
FOX "NEWS" (LOL)
USA Today (China Tomorrow :)
Even the Chinese papers got into the act - A Thank-You letter to each American would be more appropriate
With the help of Bill Cara , let's put the headline in a real world perspective:
"While TV talking heads are blabbering on about the Dow being at six year highs, the U.S. bond market, which is a much larger market than equities, and therefore a bigger part of your capital market wealth, has been smashed.
What happens whenever the $USD collapses is simple to say: American consumers are badly hurt and exporters are helped. This seems to be the Bush Administration plan – to get the consumer to pay for their jobs.
If that’s the case, why doesn’t the Administration just come out and say it? Why doesn’t the Administration just say that the American consumer is helping the Saudi oil sheiks, the Japanese and Korean exporters like Toyota and Hyundai (with U.S. operations), and the billions of consumers of Japan, China, India, Russia, and so forth, make ends meet at the end of their month.
I mean talk about carrying the world on your back.
You know, you think the Administration would get it. But for the past two business days, the TV has been just full of b.s. from the President and his Administration, pointing Americans to jobs and other meaningless data. Meanwhile, along with a plunging bond market and USD, the public polls for the President and the Congress are at historic lows for U.S. leaders.
Americans are mad as hell right now. They don’t want to see Crude Oil at $100 a barrel or Gold at $1,000 an ounce. They do want their bonds back at par. And, they don’t want to be paying for the improved lifestyles of the rest of the world."
You see, Bill could have used the same headline, but told the REAL STORY. That is why he is a better journalist than any one from the major publications. The story is not the headline.
If you don't believe that others are prospering on our backs - please review the 6 year stock charts of the following countries. Their currencies have likely been on the same path - other than China - which PEGS it against the US dollar and increases our pain!