Republican presidential candidates can spin it however they like and perhaps their supporters are too thick to look around and see the truth, but the rest of the world is quickly losing faith in the US economy. In August, foreign investors unloaded $163 billion of US securities. It is no wonder that since the world started this most recent round of dumping US assets, the US dollar has fallen against most of the leading global currencies. The last time the dollar fell so broadly was in the early 1970s.
Between a weak dollar, soaring oil costs, a collapsing real estate market (which had been the motor keeping the economy moving) and a severe lack of faith in the US market by the rest of the world, there are so many warning signs for a troubled economy and probably inflation pressure in 2008. Instead of being grounded in reality, Guiliani, Thompson, McCain and the rest all want to brag about how this is the greatest economy we've ever had. How can any of them be trusted to help fix the problem if they can't even admit that there's a problem? Just how out of touch are these guys?
