to think most ordinary people haven't taken any steps whatsoever to hedge themselves and the insolvency of the banks seems to worsen by the day.. this is just looking really bad look how much damage one bad administration is capable of
HOLY SHIT. DOLLAR IS CRASHING! .9115 for USD/CAD 1.4646 EUR/USD USD is crashing across all pairs as we speak.
More subprime likely to emerge everyone is running for the hills away from the dollar.... http://www.bloomberg.com/apps/news?pid=20601087&sid=a1sapvGekYKM&refer=home Dollar Slumps to Record Low Against Euro on Subprime Losses By Stanley White and Kosuke Goto Nov. 7 (Bloomberg) -- The dollar slumped to a record low against the euro on speculation interest rate cuts by the U.S. Federal Reserve will prompt investors to buy higher-yielding currencies. The currency also slid against the Australian dollar and the Norwegian krone as losses from subprime-mortgage defaults added to pressure on the Fed to lower its target for the overnight lending rate between banks to 4.25 percent next month. The Reserve Bank of Australia raised its benchmark borrowing cost to 6.75 percent today, while traders added to bets Norway's central bank will increase its 5 percent deposit..............