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Politics : View from the Center and Left
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To: Steve Lokness who wrote (54226)3/17/2008 5:13:02 PM
From: Bearcatbob  Read Replies (3) of 542619
 
"It's not the economy that is driving the dollar over the cliff - if that was the case why did this decline begin a long time ago? The dollars decline began as gold started its climb. It is ALL about the fed and the gross misconduct as our government continues to run huge deficits."

I believe it is the economy that is causing the "problem". The economy has been growing and as such draws in imports. That is a unique "problem" in that trade deficits are a byproduct of growth. We could cure this by creating an internal depression - but then things would be worse. The trade deficit is what is causing the dollar problem as we are flooding the world with $.

So - how do we fix that? Do we fix it by causing a recession - not a good idea. Do we fix it by reducing our cost of imported energy - only if we do the way of the greens - hence - deficit.

I am sure the desired answer is we raise taxes. How would that help? It - might - reduce the need to borrow money - but it would not reduce the trade deficit.

How do we support the $ and continue to try to keep the economic ladder open for our own poor and the open border policy that keeps the ladder available to the whole world.

This is a huge fundamental issue that separates the left from the right. How it is resolved will be a major determinant of our future. As long as we import 15 BOE of energy per day at $100 per bbl - and do not gain control of the border - it is not going to get better. A BALANCED energy policy is critical to the whole mess.
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