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Friday, March 07, 2008

Dudes, You Broke Our Country

I pick up the Wall Street Journal last week and to read about some poor sugar producer in Brazil taking a beating because his income is received in USD while his expenses are paid in Brasilian Real, against which the US Dollar is depreciating.

No offence, Brasil, you're still up and coming after all these years, but ... The Real is a third world currency, and the USD is depreciating against it?!? WTF!?

But it gets better.

Last week the press was about people simply walking away in droves from their underwater mortgages, and not just the sub-prime ones. OK, people walking away is annoying, but still within the spectrum of reality.

Today's story was about people in multi-million dollar homes who have simply stopped paying the mortgages and still live there because (hey, they might be real estate dumb, but they aren't totally dumb) they have observed that it will take years for a foreclosure to even get in motion, all the time of which these folks will be living in relative luxury while paying nothing for the privilege. Nice work if you can get it. I could have signed up for one of those deals last year and didn't. Stupid me.

So, as much as I hate to say it, after 8 years of the Bush Presidency, it may very well be time for a Clinton Presidency. 80% chance it will happen, because, Republican Dudes, you broke the country.

3 Comments:

Blogger Maribeth said...

Sad to say the W is really as stupid as everyone said he was!

11:04 PM, March 07, 2008  
Blogger Claire said...

"Republicans broke our country," LOL! Sadly banking problems might be headed our way (i.e. Germany) too. I don't think that the U.S. realizes what driving the dollar down does to the world economy. Bad indeed.

4:06 PM, March 22, 2008  
Blogger Maribeth said...

Please join me tomorrow, April 9th for a celebration on Dackel Princess!

7:16 PM, April 08, 2008  

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