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Strategies & Market Trends : The coming US dollar crisis
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To: GST who wrote (17999)3/1/2009 7:03:07 AM
From: stsimon  Read Replies (1) of 71456
 
To the contrary, the Fed does not have to do most of those things. The Congress, if necessary, can control imports through a consumption tax and trade legislation. Similarly, future costs of social security can be dealt with through future benefit reductions on younger workers and tax increases. Higher tax revenue and gradual inflation can deal with the long term term deficits.

The debate is whether the political will is going to be there to do these things. Folks who believe in the collapse of the dollar generally believe these actions won't be taken. I can certainly see, given the poor performance of government and the looting of the treasury by the idiot Bush the younger, why folks would feel that way.
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