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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (28148)4/30/2008 1:30:33 AM
From: RMF  Read Replies (1) of 71588
 
"Inflation or exchange rates"

Tim, I think they are both the SAME thing in this case. If the dollar was still at the same value in terms of other currencies as it was when Bush came in then oil would be at "around" $80 per barrel or less right now.

Our Trade Deficit is the "reason" they let the dollar fall the way they have. They are essentially trying to "devalue" their way out of those trade imbalances.

Nixon did it too, but in a more "abrupt" manner and Reagan also did it. It's sort of the LAZY Administration's version of economic policy. But, it's not GOOD economic policy and we're seeing some of the negative ramifications of it currently.
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