IN THE NEWS......
US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% - the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!
The European Central Bank made no major changes to its monetary policy at its monthly meeting Thursday. .
Euro zone producer price index was down 0.1% in August from July and down 1.4% year-on-year. It's another worrisome clue that problematic deflation could be setting in for the world's third-largest economy.
Mainstream Media looks to several factors which impacted the price of gold last week. 1. The U.S. dollar hit a two year high against the Euro and with stimulus similar to the U.S. quantitative easing no wonder the Euro dropped for 1.39 to 1.26. Finally crude oil took a dive to a 1.5 year low on the Nymex to 88.18 on Thursday.
With the ebola disease concern there were brief sell-offs in the U.S. stock indexes but markets recovered pushing the DOW over 17,000.
responsible for the ills of the precious metals markets recently. Three, the sharp sell-off in the U.S. stock indexes that saw them hit a six-week low late this week. The ebola disease scare in the U.S. has contributed to a "risk-off" mentality in the market place late this week. If the stock market continues to sell off, such would be a bullish factor for the safe-haven gold market.
Putin shrugs off Western sanctions, says Russian economy will remain strong
MOSCOW (AP) - Russian President Vladimir Putin on Thursday shrugged off the negative impact of Western sanctions, saying they will only encourage Russia to build closer ties with China, India and Latin America. Speaking at an investment forum, Putin described the sanctions as "utter silliness" that hurt Western business and offered an opportunity for others to expand in the Russian market. Putin said the sanctions, imposed by the United States, the European Union and others over Russia's role in the Ukrainian crisis, violated basic principles of the World Trade Organization and inflicted lasting damage to the global economy. The ruble has fallen sharply as the sanctions have taken hold, imposing severe restrictions on top Russian banks and companies to borrow on Western capital markets. Capital flight is expected to top $100 billion this year as jittery investors dump Russian assets.
Oct 2 (Reuters) - Russian President Vladimir Putin said on Thursday that Russia wants to shift to national currencies in trade deals with China and other countries, implying a shift away from the U.S. dollar.
"In the future we aim actively to use national currencies in energy resources trade to settle... international trade accounts, with China and other counties," Putin told an investment conference. "In using national currencies, we see a serious mechanism for curbing risks."
Russia and Iran have agreed to use their own national currencies in bilateral trade transactions rather than the U.S. dollar.
What if 20 Million Illegal Aliens Vacated America?
I, Tina Griego, journalist for the Denver Rocky Mountain News wrote a column titled, "Mexican Visitor's Lament."
I interviewed Mexican journalist Evangelina Hernandez while visiting Denver last week. Hernandez said, "Illegal aliens pay rent, buy groceries, buy clothes. What happens to your country's economy if 20 million people go away?"
Hmmm, I thought, what would happen?
So I did my due diligence, buried my nose as a reporter into the FACTS I found below.
It's a good question... it deserves an honest answer. Over 80% of Americans demand secured borders and illegal migration stopped. But what would happen if all 20 million or more vacated America? The answers I found may surprise you!
In California, if 3.5 million illegal aliens moved back to Mexico, it would leave an extra $10.2 billion to spend on overloaded school systems, bankrupt hospitals and overrun prisons. It would leave highways cleaner, safer and less congested. Everyone could understand one another as English became the dominant language again.
In Colorado, 500,000 illegal migrants, plus their 300,000 kids and grandchilds would move back "home," mostly to Mexico. That would save Colorado an estimated $2 billion (other experts say $7 billion) annually in taxes that pay for schooling, medical, social-services and incarceration costs. It means 12,000 gang members would vanish out of Denver alone.
Colorado would save more than $20 million in prison costs, and the terror that those 7,300 alien criminals set upon local citizens. Denver Officer Don Young and hundreds of Colorado victims would not have suffered death, accidents, rapes and other crimes by illegals.
Denver Public Schools would not suffer a 67% dropout/flunk rate because of thousands of illegal alien students speaking 41 different languages. At least 200,000 vehicles would vanish from our gridlocked cities in Colorado. Denver's 4% unem ployment rate would vanish as our working poor would gain jobs at a living wage.
In Florida, 1.5 million illegals would return the Sunshine State back to America, the rule of law, and English.
In Chicago, Illinois, 2.1 million illegals would free up hospitals, schools, prisons and highways for a safer, cleaner and more crime-free experience.
If 20 million illegal aliens returned 'home,' the U.S. Economy would return to the rule of law. Employers would hire legal American citizens at a living wage. Everyone would pay their fair share of taxes because they wouldn't be working off the books. That would result in an additional $401 billion in IRS income taxes collected annually, and an equal amount for local, state and city coffers.
No more push '1' for Spanish or '2' for English. No more confusion in American schools that now must contend with over 100 languages that degrade the educational system for American kids. Our overcrowded schools would lose more than two million illegal alien kids at a cost of billions in ESL and free breakfasts and lunches.
We would lose 500,000 illegal criminal alien inmates at a cost of more than $1.6 billion annually. That includes 15,000 MS-13 gang members who distribute $130 billion in drugs annually would vacate our country.
In cities like L.A., 20,000 members of the '18th Street Gang' would vanish from our nation. No more Mexican forgery gangs for ID theft from Americans! No more foreign rapists and child molesters!
Losing more than 20 million people would clear up our crowded highways and gridlock. Cleaner air and less drinking and driving American deaths by illegal aliens!
America's economy is drained. Taxpayers are harmed. Employers get rich. Over $80 billion annually wouldn't return to the aliens' home countries by cash transfers. Illegal migrants earned half that money untaxed, which further drains America 's economy which currently suffers an $8.7 trillion debt. $8.7 trillion debt!!!
At least 400,000 anchor babies would not be born in our country, costing us $109 billion per year per cycle. At least 86 hospitals in California, Georgia and Florida would still be operating instead of being bankrupt out of existence because illegals pay nothing via the EMTOLA Act. Americans wouldn't suffer thousands of TB and hepatitis cases rampant in our country - brought in by illegals unscreened at our borders.
Our cities would see 20 million less people driving, polluting and grid locking our cities. It would also put the 'progressives' on the horns of a dilemma; illegal aliens and their families cause 11% of our greenhouse gases.
Over one million of Mexico's poorest citizens now live inside and along our border from Brownsville, Texas, to San Diego, California, in what the New York Times called, 'colonias' or new neighborhoods. Trouble is, those living areas resemble Bombay and Calcutta where grinding poverty, filth, diseases, drugs, crimes, no sanitation and worse. They live without sewage, clean water, streets, roads, electricity, or any kind of sanitation.
The New York Times reported them to be America's new 'Third World' inside our own country. Within 20 years, at their current growth rate, they expect 20 million residents of those colonials. (I've seen them personally in Texas and Arizona; it's sickening beyond anything you can imagine.)
By enforcing our laws, we could repatriate them back to Mexico. We should invite 20 million aliens to go home, fix their own countries and/or make a better life in Mexico. We already invite a million people into our country legally annually, more than all other countries combined. We cannot and must not allow anarchy at our borders, more anarchy within our borders and growing lawlessness at every level in our nation.
It's time to stand up for our country, our culture, our civilization and our way of life.
Interesting Statistics!
Here are 14 reasons illegal aliens should vacate America, and I hope they are forwarded over and over again until they are read so many times that the reader gets sick of reading them:
1. $14 billion to $22 billion dollars are spent each year on welfare to illegal aliens (that's Billion with a 'B')
3. $7.5 billion dollars are spent each year on Medicaid for illegal aliens.
4. $12 billion dollars are spent each year on primary and secondary school education for children here illegally and they still cannot speak a word of English!
5. $27 billion dollars are spent each year for education for the American-born children of illegal aliens, known as anchor babies.
6. $3 Million Dollars 'PER DAY' is spent to incarcerate illegal aliens. That's $1.2 Billion a year.
7. 28% percent of all federal prison inmates are illegal aliens.
8. $190 billion dollars are spent each year on illegal aliens for welfare & social services by the American taxpayers.
9. $200 billion dollars per year in suppressed American wages are caused by the illegal aliens.
10. The illegal aliens in the United States have a crime rate that's two and a half times that of white non-illegal aliens. In particular, their children, are going to make a huge additional crime problem in t he US.
11. During the year 2005, there were 8 to 10 MILLION illegal aliens that crossed our southern border with as many as 19,500 illegal aliens from other terrorist countries. Over 10,000 of those were middle-eastern terrorists. Millions of pounds of drugs, cocaine, meth, heroin, crack, guns, and marijuana crossed into the U.S. from the southern border.
12. The National Policy Institute, estimates that the total cost of mass deportation would be between $206 and $230 billion, or an average cost of between $41 and $46 billion annually over a five year period.
13. In 2006, illegal aliens sent home $65 BILLION in remittances back to their countries of origin, to their families and friends.
14. The dark side of illegal immigration: Nearly one million sex crimes are committed by illegal immigrants in the United States!
Total cost a whopping $538.3 BILLION DOLLARS A YEAR !
To prove our point about there is a sucker born every minute and there is still too much money floating around.....no one has a hungry belly as yet or they wouldn't need this type of underwear.......The government skinny on caffeinated underwear: It won't help you lose a latte weight
12 hours ago
PORTLAND, Ore. (AP) - If you purchased caffeine-infused underwear because of promises it will make you thinner, federal regulators say you were hoodwinked - but at least you can get your money back. The Federal Trade Commission announced Monday that two companies - Norm Thompson Outfitters of Oregon and Wacoal America Inc. of New Jersey - have agreed to refund $1.5 million to consumers who purchased "shapewear" that supposedly can reduce cellulite and fat because it is infused with caffeine, vitamin E and other things. "Caffeine-infused shapewear is the latest 'weight-loss brew' concocted by marketers," Jessica Rich, director of the FTC's Bureau of Consumer Protection, said in a statement. "If someone says you can lose weight by wearing the clothes they are selling, steer clear." Neither company could be reached for comment.
Workers may see 60 percent pension 'haircut' if judge rejects bankrupt California city's plan
3 minutes ago
SACRAMENTO, Calif. (AP) - Employees of the bankrupt California city of Stockton could be forced to take a 60 percent pension cut if a federal judge rejects its reorganization plan, a lawyer for the city said Wednesday in a case that could clarify who gets paid first by financially strapped cities around the nation - retirement funds or creditors. The contention by Stockton attorney Marc Levinson came during arguments at a hearing in the bankruptcy case in Sacramento. Much of the case centers on whether Stockton's payments to the California Public Employees' Retirement System are off limits to creditors as the city tries to end its Chapter 9 protection. A key creditor, Franklin Templeton Investments, says the pension payments are fair game as it tries to collect on an unsecured $32.5 million claim against the city.
France's Socialists take axe to welfare spending with planned cuts in 2015 budget
3 hours ago
PARIS (AP) - France's Socialist government has detailed a 21 billion-euro ($26.5 billion) cost-cutting plan, the deepest-ever spending cuts in the country's modern history. Presenting the 2015 budget Wednesday, Finance Minister Michel Sapin said, "These spending cuts are crucial to our credibility in the eyes of the French and Europeans, they'll be fully applied." A significant part of the savings is to be made on France's generous welfare system. The government plans to cut 3.2 billion euros from health spending, and to cut family benefits by 700 million euros. The government also plans to diminish the number of state employees next year and limit wage increases. France's debt is now above two trillion euros and represents 95.1 percent of gross domestic product, according to statistics released Tuesday.
AP Source: US and Brazil resolve decade-long trade fight over cotton subsidies
10 hours ago
WASHINGTON (AP) - The United States and Brazil have resolved a decade-long trade battle over subsidies Washington provided to American cotton growers, an official close to the negotiations said late Tuesday. The agreement would resolve a bitter trade fight that had strained relations between the two countries since 2002 when Brazil brought a case against the United States charging that the subsidies Washington paid American cotton farmers were a violation of global trade rules. The World Trade Organization ruled in Brazil's favor and the United States had been forced to make annual payments to Brazil. The agreement resolving the dispute was to be signed Wednesday in Washington by U.S. Trade Representative Michael Froman and Agriculture Secretary Tom Vilsack and their Brazilian counterparts.
Argentina's Fernandez criticizes US judge that held country in contempt over bond payment
10 hours ago
BUENOS AIRES, Argentina (AP) - Argentina's president on Tuesday said a U.S. judge's decision to hold the South American country in contempt for attempting illegal moves to service its debt is pure "silliness." "All of this is not casual, and it comes from a senile judge," President Cristina Fernandez said during an event at the government house. "There are some players in the economy who want to bring down the government and they want to do it with help from abroad." Argentina deposited a $161 million bond interest payment with a newly appointed local trustee on Tuesday in defiance of U.S. District Judge Thomas P. Griesa, who found Argentina in contempt on Monday. Argentina's economy ministry said the coupon payment on its foreign law Par bonds was deposited into two accounts of the state-run Nacion Fideicomisos S.A. The new trustee replaces The Bank of New York Mellon, which was removed by the government.
Myanmar awards first licenses to foreign banks in a half-century
3 hours ago
YANGON, Myanmar (AP) - Myanmar awarded licenses Wednesday to the first foreign banks allowed to operate in the country in a half-century. Lenders from Japan, China and Australia were among the nine banks to receive licenses in a reform implemented after Myanmar emerged from dictatorship. Those to receive licenses included Bank of Tokyo-Mitsubishi UFJ, Industrial and Commercial Bank of China and Australia and New Zealand Banking Group. Others were Sumitomo Mitsui Banking Corp., Mizuho Bank, Thailand's Bangkok Bank, Singapore's Oversea-Chinese Banking Corp. and United Overseas Bank and Malaysia's Malayan Banking Bhd. Each bank will be allowed to open one branch and cannot conduct retail banking. They can only lend to foreign investors in foreign currencies, not the local kyat, unless they partner with local bank, part of efforts to protect the fledgling domestic industry.
Poland's new prime minister will strive for greater US military presence in country
2 hours, 42 minutes ago
WARSAW, Poland (AP) - Poland's new prime minister says she will work for a greater U.S. military presence in Poland. In her inaugural speech to parliament, Ewa Kopacz also said Wednesday that Poland's relationship with the U.S. has grown more important given the conflict in neighboring Ukraine. Kopacz also said she supported Poland's adoption of the euro currency, but didn't commit herself to a date. She said the moment would be right when Poland's economy is stable and the eurozone has strengthened further. She faces a confidence vote later in the day but is expected to survive it since her center-right Civic Platform party and its junior coalition partner, the Polish People's Party, has a majority. Kopacz took over from Donald Tusk, who will head the European Council starting Dec. 1.
Navy: Norfolk Naval Shipyard nuclear workers got credit for training they didn't attend
50 minutes ago
NORFOLK, Va. (AP) - The Navy says hundreds of nuclear workers at a Virginia shipyard were given credit for attending training they didn't actually attend. Norfolk Naval Shipyard spokesman Jeff Cunningham said Tuesday the shipyard has temporarily reassigned eight employees responsible for administering the continuing training program until the investigation is completed. About 300 workers have had their duties restricted until it can be verified they've received the proper continuing training. That represents about 6 percent of the shipyard's nuclear workforce. Cunningham says the shipyard was notified of the potential problem through an anonymous letter. He says, however, that the discrepancies do not represent a failure of workers "to demonstrate qualification and competence.
No layoffs planned for Ohio's largest military base; vacant positions to be eliminated
45 minutes ago
DAYTON, Ohio (AP) - Officials say there are no layoffs planned at Ohio's largest military base. Every one of the 372 mostly vacant positions targeted at Wright-Patterson Air Force Base near Dayton will still be eliminated. But base spokesman Daryl Mayer tells the Dayton Daily News (http://bit.ly/1vtWCf2 ) that 103 of those positions still have people working in them. They have all qualified for early retirement or buyouts, or have moved or will be moved to other jobs. Air Force Materiel Command headquarters eliminated the positions to comply with a Pentagon order to cut command staffs by 20 percent throughout the Department of Defense. Wright-Patterson, which also is the largest single-site employer in the state, has about 27,000 military and civilian workers.
General Mills plans to eliminate approximately 700 to 800 jobs, mostly in the US
(AP:NEW YORK) NEW YORK (AP) - General Mills plans to cut approximately 700 to 800 jobs, the second time it's trimmed its work force in a month, as the food company adjusts for a shift by U.S. consumers away from boxed or frozen meals.The Minneapolis company that owns Betty Crocker and Green Giant brands said in a regulatory filing that the job cuts will take place mostly in the U.S. It expects about $135 million to $160 million in restructuring charges and foresees annual cost savings of approximately $125 million to $150 million, starting in fiscal 2016.General Mills Inc. anticipates the current restructuring to be completed by fiscal 2015's end.Other household names in the U.S. like Kellogg Co. and H.J. Heinz Co., have also had to readjust to shifting American diets.Last month General Mills, which also makes Cheerios and Yoplait yogurt, said that it was closing a facility in Methuen, Massachusetts, which would eliminate about 250 positions. It also announced plans to close a plant in Lodi, California that would result in approximately 430 jobs being cut. General Mills said in a regulatory filing at the time that the decision on the Lodi facility was tentative, as it still had to have negotiations with the union there. The company said that the closing of the Lodi plant would eliminate excess cereal and dry mix from its supply chain.General Mills has been tweaking its recipes and getting into new foods as it tries to satisfy an American palate heading in a new direction. It gave Cinnamon Toast Crunch cereal a stronger cinnamon taste, removed aspartame sugar substitute from Yoplait Light and released a new line of Cheerios with added protein.General Mills also announced in September that it plans to buy Annie's, the maker of rabbit-shaped organic mac and cheese, for $820 million. The deal is expected to close later this year.
US consumer confidence falls in September in likely temporary setback
1 hour, 19 minutes ago
WASHINGTON (AP) - U.S. consumer confidence deteriorated in September after hitting the highest level in nearly seven years in August. But economists said the fall appears to be a temporary slip that shouldn't dampen consumer spending in the coming months.
The Conference Board reported Tuesday that its confidence index fell to 86.0, the lowest point since a May reading of 82.2.
It was the first decline after four months of gains and followed a revised 93.4 in August, which had been the highest reading since October 2007, two months before the Great Recession officially began.
Economists had expected a slight decline in September after the index hit a nearly seven-year high, but the size of the drop surprised them.
Some suggested that the result may have been influenced by heightened global tensions as the conflict against Middle East militants widens.
Windows 10, skips 9 to emphasize advances
SAN FRANCISCO (AP) - The next version of Microsoft's flagship operating system will be called Windows 10, as the company skips version 9 to emphasize advances it is making toward a world centered around mobile devices and Internet services.
The current version, Windows 8, has been widely derided for forcing radical behavioral changes. Microsoft is restoring some of the more traditional ways of doing things and promises that Windows 10 will be familiar for users regardless of which version of Windows they are now using
California becomes first state to ban single-use plastic bags; manufacturers warn of lost jobs
By FENIT NIRAPPIL
(AP:SACRAMENTO, Calif.) SACRAMENTO, Calif. (AP) - Gov. Jerry Brown on Tuesday signed legislation imposing the nation's first statewide ban on single-use plastic bags at grocery and convenience stores, driven to action by a buildup of litter and damage to aquatic ecosystems.
A national coalition of plastic bag manufacturers immediately said it would seek a voter referendum to repeal the law, which is scheduled to take effect in July 2015.
Under SB270, plastic bags will be phased out of checkout counters at large grocery stores and supermarkets such as Wal-Mart and Target starting next summer, and convenience stores and pharmacies in 2016.
The law does not apply to bags used for fruits, vegetables or meats, or to shopping bags used at other retailers. It allows grocers to charge a fee of at least 10 cents for using paper bags.
Los Angeles and San Francisco,already have such bans.
The law marks a major milestone for environmental activists who have successfully pushed plastic bag bans in cities across the U.S., including Chicago, Austin and Seattle."
This bill is a step in the right direction - it reduces the torrent of plastic polluting our beaches, parks and even the vast ocean itself," Brown said in a signing statement. "We're the first to ban these bags, and we won't be the last.
"Plastic bag manufacturers have aggressively pushed back through their trade group, the American Progressive Bag Alliance, which aired commercials in California blasting the ban as a cash-giveaway to grocers that would lead to a loss of thousands of manufacturing jobs.
"If this law were allowed to go into effect, it would jeopardize thousands of California manufacturing jobs, hurt the environment and fleece consumers for billions so grocery store shareholders and their union partners can line their pockets," Lee Califf, executive director of the manufacturer trade group, said in a statement.
For those folks concerned about the 10 cent fee that may be charged for paper, the simple elegant solution is to bring a reusable bag to the store," Padilla said.
The American Forest and Paper Association, a trade group representing paper bag makers, says the bill unfairly treats their commonly recycled products like plastic, while holding reusable plastic bags to a lower standard for recyclable content.
Responding to the concerns about job losses, the bill includes $2 million in loans for plastic bag manufacturers to shift their operations to make reusable bags. That provision won the support of Los Angeles Democratic Sens. Kevin De Leon and Ricardo Lara, who had blocked earlier versions of the legislation.Lawmakers of both parties who opposed SB270 said it would penalize lower-income residents by charging them for bags they once received for free. The bill was amended to waive fees for customers who are on public assistance and limit how grocers can spend the proceeds from the fees. Massachusetts, New Jersey, Rhode Island and Puerto Rico also have pending legislation that would ban single-use bags, according to the National Conference of State Legislatures.
DALLAS (CBSDFW.COM) - A North Texas hospital has a patient in isolation as they evaluate them for potential exposure to the Ebola virus.
Officials with Texas Health Presbyterian Hospital in Dallas released the following statement Monday night:
"Texas Health Presbyterian Hospital Dallas has admitted a patient into strict isolation to be evaluated for potential Ebola Virus Disease (EVD) based on the patient's symptoms and recent travel history.
The hospital is following all Centers for Disease Control and Texas Department of Heath recommendations to ensure the safety of patients, hospital staff, volunteers, physicians and visitors. The CDC anticipates preliminary results tomorrow."
The patient's travel history and specific symptoms remain unclear, but it is said to involve a high fever and vomiting. The name of the patient has not been released.
CBS 11 News spoke with Dallas County Health and Human Services director Zachary Thompson, who confirmed that the patient had been in the West Africa area where the Ebola virus exists. "Looking at the travel history is the first indicator, and then the next step is [treatment or non-treatment] once we get lab results," he said.
Thompson definitely felt that there should be a heightened sense of awareness in North Texas, based on what has happened internationally. "With what we've seen in the media and how deadly the Ebola virus is, it is a concern," he said.
The CDC is bringing a team to North Texas on Tuesday just in case it is determined that the patient is infected with the Ebola virus.
As far as possible infection to others here in North Texas, Thompson said, "The key point is, if there's been no transmission, blood, secretion, any type of bodily fluids by the infected person to someone else, then that risk is low to none."
Should Dallas County residents be worried? Thompson discussed this with KRLD's Emily Trube.
DCHHS director Zachary Thompso
The Ebola virus has killed more than 3,000 people across West Africa and infected several Americans who have traveled to the region, including Fort Worth doctor Kent Brantly, who contracted the disease while doing missionary work in Liberia. Four infected patients have returned to the United States in specially outfitted planes - three were treated in Atlanta and the fourth in Omaha. An American physician who was exposed to the virus, but not infected, was flown to Maryland over the weekend.
This morning I received notice that Dr. Stan Monteith was taken home to be with his Lord.
Dr. Stan was a After being in this conservative patriot venue for over 20 years there are few who I believe hold the same and as much integrity as Dr. Stan. Dr. Stan was a Man of God, a true believer in Christ, a true patriot and a hero. It has been an honor, and a privilege working with him and my life has been blessed being associated with his ministry. .
In two years we have lost two men who have meant so much to so many. His son David requests prayer for Barbara and the family.
NEW YORK (CNNMoney)
Investors are pledging allegiance to the dollar.
The U.S. Dollar Index, which measures the value of the greenback against a basket of foreign currencies, has climbed to its highest level in over four years.
"The momentum of the dollar's advance is unprecedented," said analysts at Soci�t� G�n�rale in a note Monday morning.
The dollar has long been the world's top business currency and viewed as a "safe bet" among investors. But the recent run up is partly because traders believe the American economy is improving, especially relative to other parts of the world.
This will compel the Federal Reserve to raise interest rates, which is generally seen as a good thing for a country's currency.
At the same time, things aren't looking too good in Europe, so the European Central Bank is starting to do some stimulating of its own. Those measures have resulted in a weaker Euro. The Japanese Yen has also struggled because of the country's ongoing economic problems.
The dollar trend is likely to continue, economists from Capital Economics claim. They expect the dollar "to appreciate further as the monetary policy of the Fed diverges from that of central banks elsewhere."
They predict that one euro will be worth $1.15 by the end of 2016, compared with around $1.27 now. The dollar has already gained more than 8% against the Euro in the past six months.
So what does a stronger dollar mean for the average American? That depends. Here's what to watch for:
Feeling buff: Americans can take comfort in the fact that a strong dollar is a sign of confidence in the U.S. economy. It means foreign investors are figuring that the country is a good place to park some money for the foreseeable future.
The downside: While a robust dollar cheapens imports, it makes American exports and products look more expensive to the rest of the world. That can hurt domestic manufacturing as U.S. firms end up competing for consumers with international rivals who are offering discounted products.
Furthermore, American-based multinationals that sell a large amount of their goods overseas get shafted when they have to exchange revenues earned abroad back into dollars.
In our globalized manufacturing economy lets not pat ourselves on the back for a higher dollar, it only means more crap from abroad and less demand for our products which leads to less job growth and more off shoring.
Considering our how huge our debt is and we are the best in the world it just proves how bad the rest of the world must be.
Ted Cruz Is Prepping a Foreign Policy-Focused Presidential Campaign
In brief his view is
"If and when military action is called for, it should be A) with a clearly defined military objective, B) executed with overwhelming force, and C) when we're done we should get the heck out," he said. "I don't think it's the job of our military to engage in nation-building. It is the job of our military to protect America and to hunt down and kill those who would threaten to murder Americans. It is not the job of our military to occupy countries across the globe and try to turn them into democratic utopias."
Now my question to you Al, do you think by 2016 this is going to be the most important issue? Doesn't it show just how out of touch even the tea partiers are? You get these politicians with huge pay checks and benefits how can they even relate to the average guy?
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