The Japanese Prime Minister said that diversity in foreign exchange reserves was a good thing, which raised concerns about central bank reserve diversification.
What that means in English is that the dollar is not going to stop losing value anytime soon as investors continue to regard the US dollar as a risky investment (thanks to the tax cuts of George W. Bush).
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To this news we can also add news of rising claims of joblessness and growing inventories.
Story here
And also there is that pesky trade imbalance which has grown yet again:
Trade off
And finally, it is worth considering that Republicans are literally selling us to Communist China every time they add to our debt levels:
Pay the man
But, don't worry, President Bush is gonna sing you a lullaby.
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