A picture is worth a million words. Do you believe it now? The US Dollar is being destroyed in front of our eyes. Following the head and shoulder pattern of the winter (with shoulders like lady gaga's on steroids to make it a double top as well), the US Dollar is dropping. If anything, the drop is accelerating.The economic news is a horror show. First time unemployment is still near a half million every report and corporate profits are being squeezed as raw material prices are rising. Gasoline prices are nearing $4 nationwide and inflation is running at 10% and accelerating. Economic growth has fallen and heading to toward the double dipper we heard so much about. The housing market is still sliding and foreclosures are beginning to rise.
Keep your eye on the Dollar and the condition of America's finances. S&P has warned about the downgrade of US debt (and Treasuries) and Weiss Research rates America's bonds down there with Greece, Ireland and Portugal.
Oh, but The One has produced a birth certificate.
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