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Posted by: Amazing1 1 year, 4 months ago
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Amazing11 year, 4 months ago
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In early June, Bush said, "A strong dollar is in our nation's interests." So in early June, we can assume that Bush was just as idiotic as ever.
How much lower would our debt be if we had never invaded Iraq?
The dollar is a fiat currency that is based on nothing but hot air. The Fed bails out Bear Sterns and pumps more hot air into the system. The economy is like a balloon. Pump enough hot air into it and the balloon will burst. And like always, it will be WE, the PEOPLE who will suffer from the cavalier attitude of those who are in control.
It's time for a Tea Party!
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Teech1 year, 4 months ago
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"In early June, Bush declared before his trip to Europe: "A strong dollar is in our nation's interests."
Which is exactly why Bush does everything he can do to further WEAKEN the dollar! He does NOTHING that HELPS our nation, every action he has taken for the past seven years has been totally AGAINST our nation's interest.
He has, of course, made billions for himself, big oil, big pharm, and others who gave generously to get him elected. Their return on investment has been ten fold. America on the whole has been the big loser.
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amazed1 year, 4 months ago
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you know, I'm really, really no fan of Bush's, but this is WAAAYY beyond what any President can do.
Much of the reason that the dollar is falling has nothing to do with Bush and much more to do with our economic realities.
American companies must meet all kinds of financial, environmental and other regulations that most of their counterparts in other countries -- especially China and India -- do not have to deal with. This makes shipping manufacturing and help desk and other functions overseas even more attractive to US based businesses.
Let's look at the responses to this. Most Republicans (at least the more traditionally conservative ones) call for leveling the playing field by relaxing some of the regulatory BS that the US corps must deal with, lowering their costs (tax breaks) and trying to give them back some leverage when dealing with unions.
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amazed1 year, 4 months ago
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Most Democrats (especially the more liberal and left-leaning) believe that the solution to this problem is yet MORE regulation and taxes.
At the same time, interest rates (as in the money market and the bond markets)in the US are very low -- especially as compared to the European and Japanese markets -- making investing in US dollars not all that attractive.
Because we have so little manufacturing left, it is extremely difficult to "buy American" -- and many are unable, unwilling or just too oblivious to even try -- so we have become a debtor nation. That is NOT Bush's fault. WE need to try hard to buy American made goods and let the retailers know that we're not buying what we're not buying because it's made in China.
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amazed1 year, 4 months ago
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Finally, previously (in the 20th century global economy) there was NO other economy that rivals the US's. There still isn't (China's getting closer, but not yet), BUT almost ALL of Europe joined together behind the Euro and that makes the Euro a valid competitor.
I guess I got a little carried away with the explanation....
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dunkirk1 year, 4 months ago
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that tends to be alittle misleading. Those laws for environment and taxes have been around for a while and in general are meant to protect people and places from exploitation. If you notice there arent a lot of manufacturing facilities located in "rich" suburbs, making the US into a third world environment does nothing but line the corporate pocket book (can you tell me one product that after its manufacture has been outsurced was actually reduced in price??) THe biggest hit on the economy and the dollar had been the spend spend spend and borrow economic policies of this administration and its trickle down theory of economics. THis is very much in the realm of what a President can do when the policies they follow are broken.
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