Friday, October 28, 2005


New Right Wing meme: Enforcing the law will cause financial diaster

Dow Jones plays Plamegate prosecution as an assault on American business CHICAGO (Dow Jones) - The U.S. dollar, Treasurys and American stocks could sell off if top White House aides are indicted on charges they leaked the identity of a CIA employee, analysts said Thursday.... After a long rant about what might happen, the truth: But the dollar never gets too far from the albatross of a huge U.S. financial imbalance, one that relies on foreign savings - buying U.S. debt -- to fund a shortfall in trade. These factors pushed the dollar to its lowest ever against the euro in late 2004. Ultimately, however, financial market focus will return to how aggressive the Federal Reserve will be with interest rates, Beuzelin said. Well, so far the Dow, Nasdaq and S&P are well into the black. Maybe dumping George Bush is good for business? With Libby's indictment, the Army of the Lord is across DeNial. But there's a long road ahead to Canaan, and the rations may be lean indeed.
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