God, I can't wait until George Dubya Bush is a memory. He is tanking our country like he tanked all of his other businesses. Our economy is being hammered this week by what the NY Times is describing as the perfect storm.
Almost everything seems to be going wrong for the American economy at once. People are buying less, but most things are costing more. Mortgage rates are rising, the dollar is falling and prices of key commodities like oil are leaping from one record high to the next.Not to mention a record number of foreclosures, the cost of the never ending war in Iraq, and, I forget, did we catch Osama bin Laden dead or alive?
On Thursday, the dollar plumbed new lows against the Japanese yen and several other major currencies; the price of an ounce of gold jumped above $1,000 for the first time; and lenders raised home loan rates once again. Government figures showed retail sales fell in February as consumers cut back on cars, furniture and electronics.
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