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The Importance of the Decline of the DollarWhat do we as a nation find important to spend our money on? Why do we as a nation feel that defense and spreading democracy are more important than our health care and aging, and education? Why the emphasis on reforming Social Security at the expense of senior citizens? What do you individually experience in planning for the future in terms of today’s costs? One does not notice the rise in costs and the weakness of the dollar until you travel internationally, especially to Europe and specifically to England. For example: $ 100 to take a taxi from central London to Heathrow, Three years ago, Euro was about E.90 to the $, today it is $ 1.30 to the Euro. Three years ago the Pound was $ 1.50, today it is almost $ 2.00. Price increases: groceries, transportation costs, heating oil What about who owns the oil companies? For example, Citco. 2005 is the first year in which worker’s pay has fallen and not kept pace with the cost of living. The USA is spending to much and saving too little. Also, the trade deficit is the highest in history for the USA at $720+ billion in 2005.
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