If you see a dollar on the sidewalk, bend down and pick it up.
There might be something of value underneath it…..
So on Wednesday, not only did the Republicans win control of the House of Representatives, but the Federal Reserve finally took the plunge with Quantitative Easing 2—
—in other words, on the very same day, the U.S. dollar got the ol’ one-two punch—right to the groin:
First the spend-and-cut-taxes Republicans won the Congress—and then, the Fed opened the money spigot with QE2.
Talk about a bad hair day! The issue is no longer if the dollar will be killed—it’s now a matter of when.
Full disclosure: Though I am a fiscal and social conservative, I have always sneered at the Republican Party’s fiscal policies.