Could someone please explain this to me? Why is it that when the U.S. seems to be in trouble, such as the current fiscal fight, that people flock to the U.S. dollar? I would think that if a country's finances take an unstable tact (markets like stability) that investors would start moving their money elsewhere. The same thing happened when the credit rating of the U.S. took a hit and I find it odd.
Canadian dollar lower, greenback strengthens on U.S. debt ceiling concerns
Canada's commodity-sensitive dollar closed slightly lower Tuesday as a stronger U.S. greenback pressured prices for oil and copper.
The loonie slipped 0.03 of a cent from Monday's close to 101.62 cents US.
The American dollar strengthened amid growing concerns about a political standoff in Washington over the U.S. government’s debt ceiling.
On Tuesday, Fitch Ratings warned that the United States could lose its top credit rating for the second time if there’s a delay in raising the ceiling.
Congress has to increase the country’s debt limit by March 1 or face a potential default. There are fears that the debate will descend into the sort of squabbling and political brinkmanship that marked the last effort to raise the ceiling in the summer of 2011.
The higher U.S. dollar helped send commodities lower because a stronger greenback makes it more expensive for holders of other currencies to buy oil and metals that are dollar-denominated.
We're still number one for now......I think.....:patriot:
Here is a thought about the debt limit or lack there of;
Why would you fight hard to try to do a good job when you can not be fired? They are untouchable! Once they are tenured they have nothing to lose. We pay them about 165K per year, (for the rest of their lives) they are tax free, they get free gold plated medical paid for by you and me, they are allowed to absolutely steal from us in the form of insider trading! And whatever form of free goodies they get by those selling their goods to the US. ie; Lobbyists..
They have no desire to work hard for the people because when we get mad at them and vote them out they go home and still collect their (OUR) money!
How many Billions does that equal per year? I am afraid to look it up.
Follow the money trail to see who profits from what... and you will find the market maker. Then study what they want and what they are doing... and you will find what, and more importantly WHY the market is moving as it is.
And "We the People" have this thing called the US Constitution... which authorizes us to deal with this problem... All we have to do is:
Grow a set...
Study and understand the Constitution... and
Just do it (take our country back).
Wonder how long until (hopefully it will happen) we do.
From those that are doing things that "WE The People" don't want. The ones that have voted themselves eternal pay!
What they didn't tell you is he voted against the bill because they loaded it up like a Christmas tree with pork from other parts of the country. He wanted the TOTAL money to go ONLY to Sandy relief.
We have seen first hand how the Feds WASTES money when it comes to "relief".
I will be willing to bet anything they will use that against him in, when it comes time for reelection.
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Godwin's law (also known as Godwin's Rule of Nazi Analogies or Godwin's Law of Nazi Analogies) is an argument made by Mike Godwin in 1990 that has become an Internet adage. It states: "As an online discussion grows longer, the probability of a comparison involving Nazis or Hitler approaches 1." In other words, Godwin observed that, given enough time, in any online discussion—regardless of topic or scope—someone inevitably makes a comparison to Hitler or the Nazis.
Although in one of its early forms Godwin's law referred specifically to Usenet newsgroup discussions, the law is now often applied to any threaded online discussion, such as forums, chat rooms and blog comment threads, and has been invoked for the inappropriate use of Nazi analogies in articles or speeches.
I think Godwin was right. Seems both sides compare each other to Hitler.