Holy Crap – Dollar Devaluation Makes Homepage of CNN.com!

http://money.cnn.com/2008/07/06/news/economy/dollar_doldrums.ap/index.htm

But, the article still doesn’t explain correctly that all the fed needs to do is even suggest increasing the interest rates this year so that gas goes down to $2.50 a gallon, milk returns to $1.99 a gallon, and everyone can live a “normal” life again.

Instead, the article incorrectly mentions there is no fix and increasing the interest rate could slow the economy.  This would be the the case if US consumers weren’t ALREADY PAYING INCREASED INTEREST RATES.

This is a fcking joke but luckily the world – specifically the European Central Bank – is giving us a hand.  Yeah, that story isn’t going to be making it to the front page of any US news site.  Though I haven’t checked their website, hopefully I can subscribe to the paper addition of the International Herald Tribune (a New York Times publication) in the States.

As mentioned previously here…Richard Fisher is the smartest guy in the room.

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