The dollar is a one-way bet: downward: "[The British Pound] powered to a five-year high against the dollar for a second day as concerns over the US current account deficit continued to outweigh evidence of a rebounding economy.
Traders believe selling the dollar is a one-way bet, and some latched on to rumours that speculators were building "short" positions on the dollar - betting it will tumble in the coming months."

This is the seed of a massive depression folks. George Bush is claiming a great economic revival, but that is based on his record deficit--funded by borrowing. Next year the cost of borrowing will soar because of the decline in value of the dollar. And that is going to cause higher deficits and so we'll enter a spiral of decline that will be extremely painful to stop. Who will feel the pain most? The GOP's favorite "lucky duckies", the ones who earn the least. The one's they care about least.
- posted by geoff @ #