$100 last month is $7 less this one; dollar's %7 decline...

[originalpckelly]

If you were paid last month and then went on a trip abroad, your money would be only 93% of what it was originally during this weekend. Over the past few days and weeks our dollar has had a significant decline. If you have stock you better be ready for a bumpy ride on Monday.

This devaluation will have a strong impact in our nation if it isn't reversed soon. When you go to the stores in just a few days or possibly a week, what ever period of time the stores supply of goods is restocked with recently bought ones, everything buy will cost 7 dollars more per $100.

If you have money in the bank, when overseas purchases are concerned, say per $1000, it will be $70 less than before.

While at first this may only change the price of foreign goods, it is bound to have significant consequences here at home. It is a truth that our nation imports almost every consumer product one can buy at a big box store. At Wal-Mart, 70% of all goods are imported from another nation. It is because of this that our nation stands to loose a lot from this currency devaluation.

If this currency devaluation continues Americans will suffer greatly, a people now struggling with gas prices will now have a less valuable dollar. I dare say, gas prices will rise even higher soon.

The house of cards has been just looking for a reason to fall, and depending upon what happens on Monday, it may very well this time. Our nation has been spending more than it makes. When the savings rate went into negative territory last year, it was the first time it did so since the Great Depression.

We will have to wait and see.

I wanted to tell everyone on DU and warn you to be ready. I don't know a lot, a lot about economics (and there may very well be a much more knowledgeable person around here), but I know enough that I am extremely cautious. The MSM may not cover this, for fear of causing an economic panic, which could be worse than the actual currency devaluation, but I don't know this for sure.