Posted on 11/28/2004 9:36:20 PM PST by politicalvanguard.com
President Bush plans to overhaul his economic team for the second time in two years and wants to tap prominent figures outside the administration to help sell rewrites of Social Security and the tax laws to Congress and the country, White House aides and advisers said over the weekend.
The aides said the replacement of four of the five top economic officials -- including the Treasury and Commerce secretaries, with only budget director Joshua B. Bolten likely to remain -- is part of Bush's preparation for sending Congress an ambitious second-term domestic agenda.
(Excerpt) Read more at washingtonpost.com ...
Senator Gramn would be an excellent choice.
Kudlow and Forbes would be great pr men for the changes GW wants.
Keep Kemp out of there.
Doctor Sowell would be a great PR man to work with Kudlow and Forbes.
True...but a little fall in the dollar isn't the end of the world either.
No currenies go up and currines go down, no big deal, but a crash on the other hand is a big deal. I and not worried about 30% drop over a year. I am worried about a 50% over a week.
For starters, US Bonds are virtually risk free. They balance out a mixed portfolio beautifully. Anyone over the age of 50 would be crazy NOT to anchor their longterm portion with US Bonds.
Always remember to look at the long term returns.
We need 18% interest rates now, not 3-4 years from now after hyperinflation will have destabilized our system.
BUMP
Sowell? Isn't he an anthropologist?
Do you mean Walter Williams? (University of Chicago)
Get rid of line 2, and make line 8 "10%" and I could live with it. I'm tired of calling it a flat tax while simultaneously keeping the regressive/socialist low-income exemptions and such intact. Flat means FLAT!
Unfortunately, the economy is deceptively poor through no fault of the president. W will be fortunate not to end up his second four years as Hoover II. Why would foreign investors want to hold US bonds in a rising interest rate market in concert with the dollar in a death spiral?
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the dollar has tacked down to where it was in 1993. It is currently overinflated because the orient including both the japanese and the chinese and all the small players there keep their currencies artificially low to help their trade. they now hold dollars like the US once held gold. they can't just sell all their dollars because even incremental sales of dollars for what ever pushes the dollar way way down and the value of what's left vanishes. They can see that every time they sell dollars the effect is to push the value of the dollar down. The dollar is sinking anyway.
That said the US demand for money is so great that greenspan has warned he will have to raise interest rates in order to make us money interesting --in a declining currency market--to foreign bondholders.
We have been here before. The time was 1987. I don't know whether that will come later next year or later in 2006.
How 'bout Walter Williams?
A man can dream, can't he?
Yeah, that's a brilliant idea. Triple interest rates, that'll do wonders for ownership...
< /sarcasm >
Good old uncle Walter being the sexist pig that he admits to being would turn off most women in about 30 seconds after he opened his mouth.
I would like to see Dr Williams and Dr Sowell link up with Bill Cosby and share their beliefs with the average Black American. That could be the beginning of the end of the slave party's control over the black voters.
HERMAN CAIN
"Well there you go, if the MSM is saying it MUST be true."
Think! Does the MSM ever miss a chance to spread doom and gloom? At least when a Republican is in office? If they could turn this into something other than what it is, they would.
Shouldn't that make you suspicious? When the NYT thinks something is good policy, shouldn't that ring warning bells?
A better source for analysis of economic policy is the Wall Street Journal, which consistently recommends that we've let the dollar slide much too low, through a combination of John Snow's missteps and Alan Greenspan's oversights.
The drag that a weak dollar places on the U.S. economy, through burgeoning energy costs, will far outweigh the limited effect produced by making U.S. exports cheaper to the few overseas customers we have.
Well, the economy is poor through the fault of GWB (and yes, I'm a conservative, and yes, I voted for him.)
The drop of the dollar by 40% against the socialist economy-derived Euro is largely attribultable to the fact the market thinks "we're living beyond our means"-- in other words, we're going into too much debt.
It happens on a personal level. We shouldn't be suprised when it happens a national level, when we adopt a fiscally liberal spending policy as GWB has.
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