"Strong Dollar"?!

Discussion in 'Economics' started by Kanzei, Jul 2, 2008.

  1. Kanzei


    George Bush just said in a press conference about the G8 that his administration has always been in favor of a strong dollar.

    Since the dollar has done nothing but fall, does that make him a failure or does it mean he's just lying through his teeth about his policy?

    It's one or the other.
  2. sounds like another one of monkey brains jokes.
  3. Bush favors a strong dollar?
    Yeah right!

    I'm not saying that a weak dollar is THAT bad, but that Bush supported the dollar?
  4. As you learned growing up action speaks louder than words. Until Ben raises rates and we control our deficit spending it's all talk. Just like the dribble Paulson is saying on CNBC.
  5. George Bush is either completely ignorant or delusional. (I would lean toward the former.) He has little to nothing to with the dollar unless you believe he influenced the decision for Bernanke which I doubt which would only contradict what he said in the first place...
  6. 1. A weak dollar IS that bad!!

    2. Bush and Paulson "sell" a strong dollar with their rhetoric... they want foreigners to continue accepting them and buying dollar-denominated assets... it's all LIES AND SNAKE OIL.. .just like the old West drummer who tried to pawn-off sugar water as an elixir.
  7. Deficit spending has A LOT to do with a weak dollar...
  8. The US has only one method of increasing the value of the dollar today.

    Sharply raise rates.
  9. And/or, the Gummint could stop deficit spending and the Fed could stop the money pump. But like Grandpa's Wisdom says, "Don't hold you hand on your butt waiting for THAT"...
  10. Kanzei


    or there's another method: balance the trade deficit with a tariff. (although that would violate the free trade religion)
    #10     Jul 2, 2008