Friday 25 March 2005

Guardian: Buffet attacks American spending junkies

I was shocked the other day when I converted some US funds into pounds sterling. The exchange rate was 1.92!

The dollar continues to plummet due to American spending junkies. In FY04, the US spent $322 billion on interest payments. The US debt is up to $7.7 trillion. I honestly think we're creeping up to some major instability in the world finanical system. Financial instability leads to political instability.

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