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Politics : PRESIDENT GEORGE W. BUSH
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To: jmhollen who wrote (522333)1/11/2004 12:05:12 AM
From: Rarebird  Read Replies (3) of 769670
 
<You're a doofus, ..........and/or you can't read.>

I'm real impressed with the way President Bush is leading the USA down the tubes. It will make a great Broadway show someday. Inside a country, a drastic fall in the international value of that nation's currency can be simply regarded, in economic terms, as if the nation in question had imposed a massive import tariff on itself. In a situation where international exchange rates are comparatively stable, the imposition of an import tariff of 30% would promptly raise the costs of all imports by that 30%. The effects would be next to instantly seen and understood by the general public. The fall of such a nation's currency from 100 to 70 in value against the currencies of its major trading partners over a period of two years would have the same general economic effects. The only difference is that since the fall happens over time, the effect is not so readily seen.

Oops, I forgot, All-American Types like yourself cannot readily see or think. Sorry.
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