"reckless tax cuts" THERE IS NO SUCH THING. That is the extent of the brainwashing that has been done by the left, to the point that tax CUTS are considered evil. That is kind of scary.
I think Snow is an impressive and articulate proponent of the administration economic policy. There is no inconsistency with his prior positions, only a change in emphasis. The dollar issue is troubling to me, as I feel a strong dollar policy is ultimately good for us. However, I think there may be some subtle payback to the french and germans in seeming to encourage the euro to become so strong and hence uncompetitive. I am seeing some faint yet troubling parallels to 1987, when a weak dollar and German refusal to cut their interest rates lead to chaos. I am not that worried about financing the deficit because the health of both the euro and asian economies is directly tied to the health of our own. For them to go on strike and refuse to buy T-bonds would be totally selfdefeating and they know it.
What happens to US stocks if they let dollar drop to E130 the suddenly reverse it, the stocks will get really hammered. It's getting ridiculous.
Thanks AAA- one thing you mentioned a couple days ago was the parallel between '87 and now -- the divergence between US equities and the dollar -- what is different between then and now?? thanks!