From washingtonpost.com:
"The United States is strongly committed to a strong U.S. dollar and financial markets there are recovering from the subprime crisis, some quicker than others, U.S. Treasury Secretary Henry Paulson said on Tuesday."
Who are these guys kidding? How can this even been said in the same day as the Fed again cuts its target rate another quarter point? I hope that people are starting to sit up and take notice. The Fed does not care about you, they care about the banks, end of discussion.
Because of the inflation which is now running rampant over the last 5 years and is accelerating since the last two FED meetings, we have all effectively gotten huge pay cuts. Every time the FED cuts its target rate, inflation runs rampant, the value of the dollar falls and everything we purchase costs more. It doesn't get much simpler than that. But don't worry, Paulson and the US are committed to a strong dollar, which leads me to the chart of the day (US Dollar index over the last 6 months):
