Shortly after Congress approved several hundred miles of border fencing last year, machinations allowed the Bush Administration to allocate the funds in essentially whatever way it saw fit. Not surprisingly, pretty much none of the fence has been built.
The United States debt exceeded the 9 trillion dollar mark yesterday. It wasn't but a year and a half ago that Congress set 9 trillion as the Federal Debt Limit. Hmmmm....do they get arrested now? Do they care that it's higher than 9 trillion? Do they even know?
One trillion seconds makes 31,546 years. I wonder how high 9 trillion one-dollar bills would be if they were stacked on top of each other.
Did you ever wonder why the price of a barrel of oil is now approaching $100? Things currently are actually going relatively well in the Middle East. The reason for the exploding cost of oil is that the dollar is sucking hind teat these days. The cost has not exploded for those who buy oil with Euros, because the Euro is strong. Especially when compared with the dollar. Some people tell you it's not a big deal. I got B's in my economics classes, so I'm not an expert, but I think it is a big deal. Maybe this will be the impetus for America to become more energy independent? Nope. If only there were no ulterior motives agitating against such a simple solution.
China is losing confidence in the dollar, at a time when a lot of other people and entities are as well.
The latest catalyst was comments by Cheng Siwei, vice chairman of the standing committee of China’s National People’s Congress.It doesn't appear that the Bush administration cares. Well, actually they care, I think, in a certain way, and that's why they aren't doing anything about it, except for pontificating on the lie that there's nothing wrong.
He said the country’s $1,430bn foreign exchange reserves should be diversified away from the dollar into strong currencies such as the euro.
In 2005, Bush met with the leaders of Canada and Mexico to begin the formation of the Security and Prosperity Partnership (SPP). You probably didn't know that this supra-national governmental entity is in full swing, did you? I wonder if SPP executives are worried about the collapse of the dollar. Probably not, but others are for the first time in their lives.
Stephen Jen has seen more than a few bouts of negative sentiment towards the US dollar but none as severe as today.I wonder if it is being planned that way.
“This is the first time in my career that I am really worried about the dollar,” says the head of currency research at Morgan Stanley.
“I didn’t know it was going to go so far. The dollar is in trouble..."
In 2005, before a committee of the US House of Representatives, Robert Pastor a member of the Council on Foreign Relations, and one who has been very involved in the creation and establishment of SPP, had this to say:
...incremental steps will no longer solve the security problem, or allow us to grasp economic opportunities. What we need to do now is forge a North American Community, based on the premise that each member benefits from its neighbor’s success and is diminished by its problems.The establishment moguls have already sniffed their noses at congressionally-mandated border security measures. What better way to get us the rest of the way into the SPP than by bringing America and its dollar to their knees economically, so that we will beg for a new currency?
The subject of this hearing today – whether passports should be required to cross our two borders – is symptomatic of the problem. We are thinking too small. We need to find ways to making trade and travel easier while we define and defend a continental security perimeter.