16 percent of the nation's wealth gone in 2 years as dollar plummets - why reserve is destroying $

[Liberal_in_LA]

The Federal Reserve Is Scared Silly

http://www.thetrumpet.com/index.php?q=4406.2649.0.0

The Federal Reserve has shown its hand. It is willing to do anything to postpone a recession and save the banking sector—even if it means destroying the dollar. By Robert Morley

The dollar has fallen dramatically for more than a year and a half, eroding the nation’s wealth more than 16 percent. Sixteen percent gone in less than two years! Vanished.

In the past seven years, the dollar has fallen by 40 percent. Yet the Federal Reserve just cut interest rates again, even though it thoroughly understands this move will only damage the dollar’s value further. Why?

The Fed is scared silly by the alternative.

Since the dot-com bubble exploded in 2000, one big thing has kept the U.S. economy going. It certainly hasn’t been manufacturing, exports, or any other form of productive wealth creation. It has been consumer spending. But now Joe Consumer’s atm card may be close to empty.

[angstlessk]

1. well, for once, I can say....thank god I ain't got no damn money!

got a home and no cash!

[heidler1]

2. The Federal Reserve is trying to save the Republicans from an even bigger defeat in 08.

Greenspan got by with it in 2001-2002 but "FREE MONEY" caused the now housing collapse.