November 13, 2004
Up-is-downism continues
By Jim Dallas
The U.S. dollar has fallen more than 20 percent in value since President Bush took office, hit an all-time low against the Euro this week, and has finance ministers around the globe rather concerned.
The Bush administration response:
The Bush administration hasn't changed its ``strong-dollar policy,'' Treasury spokesman Rob Nichols said today, adding the Treasury doesn't comment on daily ``market fluctuations.''
This is gonna be a long four years...
Posted by Jim Dallas at November 13, 2004 03:48 AM
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Drives prices up at Walmart and Target and makes our exports cheaper. More groceries for the poor in Africa and Southeast Asia, Central America. Good thing. Employment up, producing more. More products to send oversees. Good thing. Gas prices high, bad thing. Okay for now, as long as not perminent. If only the Chinese would follow suit.
To be fair, I think pretty much every Administration has to talk about supporting a "strong dollar" whether or not they believe or it is possible. This kind of talk will help the dollar decline slowly. If the President openly acknowledged the trouble the currency was in, it would crash a lot more quickly and cause many more problems.
So the currency markets truly are the one area where psychological lies are beneficial.
They dun drove prices up at the WAL-MART??!! Petey, I woulda thunk you'd been madder than hell!!
i heard a good quote on the dishonesty of the bush administration over at hornfans.com a few weeks back. it went something like this: "i don't know if this is the most dishonest administration ever but it is definitely the first to look you in the eye and tell you the sky is green and the grass is blue and then slander you as an anti-american terrorist for suggesting otherwise."
