Dollar Falls to Record Low Against Euro;

[katty]

more:
http://www.bloomberg.com/apps/news?pid=20601087&sid=ar3a9gqZqBLk&refer=worldwide

Dollar Falls to Record Low Against Euro; Fed May Cut Rates

By Bo Nielsen and Min Zeng

Nov. 6 (Bloomberg) -- The dollar fell to a record low against the euro on speculation financial-company losses from U.S. subprime-mortgage defaults will grow, prompting the Federal Reserve to cut interest rates for a third time this year.

The U.S. dollar declined versus all 16 of the most-actively traded currencies after Fed Governor Randall Kroszner said conditions for subprime-mortgage borrowers may worsen. The dollar fell against high-yielding currencies, including 1.2 percent versus the Brazilian real and 1 percent against South Africa's rand.

``The dollar is undermined by growth and interest-rate differentials,'' said Samarjit Shankar, director of global strategy for the Global Markets group in Boston at Bank of New York Mellon, the world's largest custodian bank with over $20 trillion in assets under administration. ``The U.S. is the epicenter of the subprime crisis.''

[Hydra]

1. So when are they rolling out the Amero?

I hate deliberately created trainwrecks

[katty]

2. I hear that...

[EVDebs]

3. Arithmetic gives us about 20 yrs to go

1 trillion barrels of recoverable oil left (1 x 10e12)
-------------------------------------------------------- = 1 x 10e4 / 365 = 27.4 years
100 million barrels of consumption daily (1 x 10e8 )

the current daily consumption is about 85 million barrels but the forecast to 2020 is 120 million barrels per day. I just split the difference and made the arithmetic easier. Also, I personally believe that the Saudis have been inflating the amounts of their reserves.

The best futurist plans I've seen are

Lester Brown's Plan B 2.0, read online at
http://www.earth-policy.org/Books/PB2/Contents.htm

and Amory Lovin's Winning The Oil End Game, downloadable or buyable at
http://www.oilendgame.com/ReadTheBook.html

[katty]

4. thx for links