Friday, September 4, 2009

Is the Dollar Doomed?

Read This Because the Dollar Is Doomed

Brian Richards and I wrote back in March that we thought the dollar might be doomed. That was because:1. The United States has a massive and growing deficit.2. The United States continues to generate significant trade deficits.3. The United States has become oh-so-willing to print money out of thin air to meet its increasing obligations, and to prop up the likes of AIG (NYSE: AIG) and Bank of America (NYSE: BAC).

Given the health care program, stimulus package, bank bailouts, "cash for clunkers" program, we are spending too much money and spending money we really don't have. Take a look at this article on wikipedia. Click here.

Read the article carefully and you will be appalled by what you see.

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