Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Andrew N. Cothran who wrote (1353)	2/4/2005 10:47:54 PM
From: Richnorth	Read Replies (1) of 224705

I am an inscrutable fellow. No deceptive smiles! Nor frowns from me. Seems you think Bush is some kind of demi-god, or that he has a red-hot line to heaven. Right? Or you are just a compulsive optimist in whose heart hope ever springs eternal? By the way, here's a sobering read for you:- Feb 5, 2005 Central banks warn US over massive deficits straitstimes.asia1.com.sg LONDON - Some the world's major central bankers have warned the US on Friday that the international community could be running out of patience with the massive US budget and trade deficits that have pushed the dollar lower and increased the cost of their exports in America. Central banks warn US over massive deficits US stocks up on weak job growth figures European Central Bank President Jean-Claude Trichet said it was unacceptable for developed countries to run long-term current account deficits. Bank of England Governor Mervyn King said the trade and budget deficits and the purchase of large US dollar reserves by Asian countries were combining to cause 'global imbalances'. The US trade and budget deficits are expected to be a significant item of discussion during talks on Saturday among the ministers from the G-7 nations - Britain, Canada, France, Germany, Italy, Japan and the US. The Bush administration has pledged to halve the budget deficit by 2009, but also intends to argue that trade partners concerned about the deficits should be speeding up their own growth and relying less on exports to America. US Federal Reserve Chairman Alan Greenspan said before the official opening of the G-7 meeting that factors including the weaker dollar and tougher budget discipline in Congress may finally start to restrain the growth of the trade gap. -- AP

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