Further to this, Korea, like Russia and China has joined the chorus for Euro denominated commodities and caused the massive sell off of the U$D today.

I wonder how Muckdog's U$D/Euro currency trade is holding up?

It looks like we're on the same wavelength, pessimist, although I thought I was being pessimstic. There is quite the variety of really bad things which could happen in the next few years.

US Dollar chart.

I don't trade currencies, but it'd be up for the year if I had.

Newsflash: Market drops 175 points today. Now lets see, George, where were we on the personal accounts for Social Security issue?
You see, thats the beauty of this whole thing. The idiot Bush can sell his SS scam all he wants, but a hard sell-off on Wall Street is all it will take to remind everyone what a stupidly foolish idea he's trying to pedal. Hey you 30 year olds, what would you do if your retirement account just lost 175 points today?? Guess what, us 50 year olds found out what happens when our IRS's tanked four years ago along with Bush chum Kenny Boy Lay's Enron. It sucks.

"Each second of my life I will spend in the struggle and God's will be done," he said. "If, by the hand of the devil, those perverse plans succeed ... forget about Venezuelan oil, Mr. Bush," he said.

Why is he threatening us like that? Just like President Khatami threatened us when he said that if we invade Iran, they'll fight back. The nerve!

I mean, the only thing that lets me sleep at night is knowing that the bush administration "will not tolerate" a nuclear North Korea. that would suck if it ever happened.

Correction T2: The Dow only went down 174 points today.

Get your facts straight, or I'll sick the muckdog on ya !!!

The Scott Ritter prediction that bush plan to bomb Iran in June is scary but there is no surprise. King george must have ADD.
In 4 years, he started 2 wars without exit strategy. Why not 2 more as he did called himself the war president! Maybe that will wake up this country! ....And than again,

Brussels: In spite of these persistent divergences, European and American were satisfied of the change of climate. Jacques Chirac was thus delighted by the more realistic attitude of the United States toward Europe. The future will say to me if I were not mistaken, concluded the French president, educated by the experiment of the first mandate of George W. Bush.

I stand corrected. Will we snap up the good buys tomorrow, or continue to rob potential retirement accounts?? See, thats just it. If Bush's scam to Steal Our Retirement Money went into effect......the affected future retirees would be sweating even .98 of a 174 point drop at about age 48. What a fun way to plan retirement, huh. That, my GOP friends, is why its called Social SECURITY. You KNOW what you'll get (unless Bush has his way). It might not be alot every month, but some Saudi Prince changing oil prices to buy 8 new wives won't blow your rent money .

Muck, you said:I don't trade currencies, but it'd be up for the year if I had.

Actually, the U$D gapped up on the first day of trading in 2005. Had you gone long the U$D on day one of 05...you'd be flat....but more to the point...two weeks ago you were expounding on the economic success of Bu$hco...now you seem subdued as the other shoe appears ready to drop....multi-billion dollar trade and budget defecits and an unlimited supply of greenbacks pushed into the system dictates that this economy is in for very tough sledding...fwiw.

I don't trade currencies, but it'd be up for the year if I had. Posted by muckdog
In the era BB [Before Bush] the Euro was a humble currency selling around 80 cents. At that time it was ridiculed by Republicans for being puny. Now, trying to save face, those same poor little Republicans will try to take comfort in the transient status of the dollar in that it is currently better than its low of 136 last year. I can assure you, it will fall below the 136 point in the not to distant future. Brag then, weep now.

Any US attack on Iran will need to include their missile bases in southern Iran, from which they control the Gulf littoral. The US attack will not be a one or two day affair, once it starts. It will need to go on and on and on, because it will only take a few Iranian hits to stop the oil exports out of the Gulf. Hell, it may not even need any missiles. Once the Iranian fanatics are properly lubed by persistent US air attacks, they'll be willing to take zodiacs out to torch some tankers. Of course, Dubya will claim that none of this could have been predicted and Condi will claim that it's the Iranian's fault that the world is sliding into The Great Depression Redux.

It's interesting to note that Gerhard & Jacques are now wanting to lift the embargo in China.

I'm surprised that Middle East countries that hate us haven't moved to another currencier sooner.

But not the Saudis... they like to suck up to us.

What will George have to tell us then?

What he's always told us. "Go fuck yourself, poor boy. You aren't my base."

The idiots sons list of accomplishments grow. Had to get a legacy because he's dumb as a box of rocks. Deserted the guard. Bancrupted every business he ever owned. Dealt oil with Iraq during the first Gulf war (traitor). Changed religion like socks to appeal to the demographic he was in at the time. Failure as a Governor.

With his early successes in life, I am really surprised he fucked-up the economy, drove us deep into dept, made taxes regressive, used the Treasury as spoils for his friends, started a war he can't win for oil, drove the dollar to new lows, let Korea get nukes, failed at prescription drug reform, alienated our allies and made every country on earth suspicious of our intentions.

Before or around the beginning of Operation F--- Saddam, we're taking him out, I read a long essay (perhaps in From the Wilderness) and several shorter pieces that the main point of the operation wasn't so much oil or controlling the Middle East as it was to prevent Iraq from moving to the euro for its sales of oil.

The DOW was down 1.6% today. Bar the windows.

For the last 10 years, the SP500 has averaged 11%.
For the last 100 years, the SP500 has averaged 11%.

And when the Dow is down in one particular year (or decade for that matter), you have retirees entering their golden years in abject poverty. Could be you Muck. It would certainly be fitting.

Let's also remember that a substantial portion of SS goes to survivor and dissability benefits for all Americans. It keeps food on the table and a roof overhead for widowed housewifes and their children. Your unreliable private accounts are not going to be able to do that.

For the last 10 years, the SP500 has averaged 11%.

And the last 3 years 1.6%.

In the 10 years starting 1929, the S&P 500 lost nearly all value, though, Muck. If a market crash devastated all one's holdings on the eve of retirement, knowing that such devastation doesn't happen all that often would not bring much solace.

You guys are hillarious. I guess you'll keep losing the $50,000+/yr salary folks election year after election year and never quite figure out why.