To: underground
Yeah, I choose to ignore that in my initial post, but you are absolutely correct. I have mixed feelings about the dollar devaluing further, and more rapidly. On the one hand, it would cause such hardship nationwide as I have never seen. On the other hand, it would make voters more aware of the repercussions of government deficit spending.
3 posted on
02/25/2008 12:34:06 AM PST by
backtothestreets
(My bologna has a first name, it's J-O-R-G-E)
To: backtothestreets
Unfortunately I think the government likes currency devaluation because the majority of voters don’t understand its correlation to deficit spending. No one in the election is even talking about it because its not the type of “change” that makes a good sound byte. Conservatives still love tax cuts at least, but I’d love to see some more of that ambition transfer into government spending cuts. :)
5 posted on
02/25/2008 12:57:16 AM PST by
underground
(Working overtime to keep social security solvent and potatoes on the table)
To: backtothestreets
The falling dollar is making American goods more attractive to the rest of the world, giving more opportunity to compete. The EU economy is really struggling from the low dollar, because with a strong dollar their high cost economy was reasonably competitive, but with the low dollar most of the world is buying comparable goods cheaper from the US. While many people think we don’t manufacture anything anymore, we actually do. A lot of specialty items are made in both EU and US, so that business has swung our way.
8 posted on
02/25/2008 3:35:46 AM PST by
Kay Ludlow
(Free market, but cautious about what I support with my dollars)
To: backtothestreets
Good points gentleman. Now beyond all of this very pertinant detail is the policymakers of Washington which have not only allowed, but encouraged the global fleecing now occuring.
The real problem is that the fleecing ultimately comes at the expense of 300 M Americans (minus the 1,000 or so odd people becoming fantastically rich).
By the time most Americans will have truly realized what occured we will be in the worst recession of the last 40 years or perhaps a depression. The real bummer is that those who created this situation will be long gone sipping nice whiskey and and laughing their behinds off.
What’s a gentleman to do? Step in, take the reigns and begin cleaning house and finish doing it fast to restore global confidence in the U.S. dollar. This is going to be a five year recovery at the least from this monumental mess.
12 posted on
02/25/2008 1:23:05 PM PST by
quant5
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson