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Politics : President George W. Bush - Right or Wrong?
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To: Doug R who wrote (135)11/28/2004 9:58:10 PM
From: BEEF JERKEY   of 390
 
"Well, the US current account deficit (the difference between what the US spends abroad and what it earns) is reaching the point where our creditors are getting worried. One sign of this is the falling dollar, now at record lows against the Euro. The dollar's slide is both cause and effect. It's an effect of the fact that people are less enthusiastic about taking on more dollar-denominated IOUs. It's a cause in that it makes it even less attractive to own dollar-denominated IOUs, since their value is declining and appears likely to continue doing so. The process feeds on itself, and there is always the risk that it will spiral out of control in a panic of selling."

A kick-ass military won't do much good if the dollar seriously implodes. Bush has seriously weakened the US during his first term. There is a serious risk that things really unwind during his second term.
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