Scuse me but aren't they kicking around the dollar peg?
Sheer profundity.
Q: You mentioned that one of the reasons that’s driving up the price of oil is the dollar. You have said that you are for a strong dollar. Do we have a strong dollar now?
Bush: We have a dollar that’s adjusting, and I am for a strong dollar. One reason I am for a strong dollar is because I want, you know, people to — I think it helps deal with inflation. And you’re right, the weakening dollar has affected our capacity to be able to purchase energy. I mean, we’re dependent on energy from overseas. Our dollar doesn’t buy as many barrels of oil as it used to, and so therefore it’s more expensive for the American people. And that’s why I’m for a strong dollar; one reason.
Q: But the dollar is down against the euro, something like 45%, over the last six years. And today it hit a new low against the euro.
Bush: No, I know. And it’s not — those aren’t good tidings, if you’re for a strong dollar like I am.
Q: Would you like a stronger dollar?
Bush: I would, absolutely. And there are certain things that we can do. We can send signals to the world that their capital is welcomed into the United States, that we’ll fight off protectionism, and that we’ll deal with this — you know, the dollar was strengthened when people realized the relative strength of our economy. And one of the things people are watching carefully is, will the United States government put policy in place to stimulate growth without affecting long-term growth? In other words, without passing laws that make it harder for investment, or harder for capital to move, or harder for markets, labor markets, to remain flexible. |
