The Dollar is getting Pounded

Today 1 British Sterling Pound will buy 2 US Dollars for the first time in 15 years. And it takes more than a $1.35 to buy 1 Euro, which is trading at the historic highs it reached in the first quarter of 2005. But the crazy thing is that more US goods aren't being bought. It's hard to see the dollar's value turning around anytime soon, given the Bush administration's penchant to spend away on war without raising taxes so that we must print greenbacks that are quickly becoming more worthless than the paper they're printed on. One wonders at what point investors will get worried and pull out of US markets (which by the way today are nearing record levels). But not to fear. I'm sure the Bush family and all his friends have switched many of their assets over to gold and other natural resources, like oil.