The dollar stinks ... what's new?

From the London Times:

"LEADING fund managers are gloomier over prospects for the dollar than at any time for five years, according to a survey that will fuel fears of a further slump in the American currency.

Three quarters of the 204 fund managers polled globally — who control a total of £320 billion of assets — believe that the dollar is now the leading currency most likely to suffer a decline over the next 12 months, according to the survey by Merrill Lynch, the investment bank."

No shit, Sherman.

Apart from the obvious, the trade deficit that is, the real impetus for the impending decline is the perception that US interest rates are near a peak. Notwithstanding my assertion the dollar stinks, I tend to look at the low savings rate and low debt/growth quotient as well as the deficit as the reason to short it. Rates are not going down anytime soon. They can't. Flooding the economy with more money will not cause more growth -- the industrial/business sector is BOOMING. The consumer is tapped out and leveraged to the hilt. To get things back in order, savings has to climb, debt has to shrink (if you are paying more monthly for your debt, you want to shrink it quickly), property has to re-balance, and we have to quit our oil habit. Not anytime soon, eh? High rates also reflect the reality of impending inflation: yes, folks, I can smell this sucker headed our way with our consumer economy on its knees to face it.

What else is new? My daughter "won" a goldfish at a school fair. Net result: $120 for aquarium, filter, air pump, fake greens, piece o' coral, some friends, etc. "Goldfish" should be outlawed. Probably Petco gives them away for precisely the same reason pushers hand out samples of smack: "here, it won't get you hooked!" Next thing you know, you have a habit.

It has been raining in Boston for seemingly weeks. Heavy rain. Seattle rain. Friggin' Outer Hebrides rain. But knowing the talent for Massachusetts public officers and officials for mismanagement, we will have a water shortage by September ... "wahl, you know, ah resivwahs wasn't built for the watah needs of today, so we cahn't be held responsible for naturahs little swings." Sort of like that fat pustibule Seniah Senatah from the Commonwealth proclaiming the need for less dependence on imported oil, but can't quite seeing his way to supporting the windfarm in Vineyahd Sahnd.

And Boosh is determined to send troops to the border. What a waste. Make the employer responsible for his employees -- and put teeth into it, with good auditing, and you do not have the problem. But since he is determined to do so, let's get another thing straight: Mr. Vampire Fox, El Presidente de Mexico has NO RIGHT to dictate what our immigration policy should be. Mr. Fox, if your country was not the corrupt cesspit that it is, perhaps people would not be seeking to head north in droves. And you are not doing us any favour by letting your great unwashed migrate to become illegal aliens: you are dumping your chronic problems on us. If we determine to say "no mas", then it is our right. You have nothing to say about. If you insist, and certainly you appear to in that you publically have set up your embassy and consulates as funding centers to influence our laws in the US, perhaps you might consider the usual repayment for those who would mess with our democracy: a maverick up your presidential limo tailpipe. But for the farce of someone so out of touch with any level of decency trying to dictate terms to the US, it would be intolerable. Certainly Russia and China have invaded their neighbors for less.

Did you notice how they have retreated from the "drugs for all" policy recently suggested as a means to control their drug gangs? How can a government just reisgn like that? Brazil is now feeling the pinch of over 100 police murdered in the last week in "hits" ordered on their mobile phones by gang leaders serving time in the slammer. When you let weird shit happen, more of it comes your way. And when you entire society is so corrupt and inefficient that it cannot support its populace, DO NOT THINK TO EXPORT THE SAME TO US. We do not want your system. We do not want your culture: it has failed and is corrupt. Illegal immigration is just that: illegal. Condoning the illegal is corrupt. Planning it and supporting it against another soverign nation is an act of war.

And the far left can't see it. And the conservative business leeches that use slave labor don't want to see it. I was born in the US as an English speaking citizen, one of whose parents legally immigrated. They have always paid taxes. We pull our share. I have no argument with others who wish to pull their share, but you have to do it in the framework of our laws and systems. That framework succeeded in the creation of the longest standing republic and democracy in the world: I have no wish to corrupt it and change it to something less as "inevitable."

Name just one country with latin-american culture that has been successful on a long term basis (over 50 years). Just one. Don't import that "success" to the US. Let the latino culture assimilate into ours: ours works. And don't be coy about the meaning of success: it is about standards of living, a working and just legal system, personal integrity and security ... and opportunity. That last bit ... that is why the world wishes to come to the US ... opportunity. Without a fair democracy, based on the laws, (more or less) free of corruption, there is no opportunity. No, Mr. Fox, if it comes to it, we have to close the door to preserve the Golden Goose. And that is YOUR FAULT, and fault of people like you, not the hard working migrant who wishes only to put food on his table for his family.