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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Oeconomicus who wrote (515203)	12/23/2003 9:21:30 PM
From: JBTFD	Read Replies (1) \| Respond to of 769670

The one potentially major downside in a continually weakening dollar is the fact that we are a debtor nation and if the people and countires loaning us money see that the market value of their debt holdings just lost 25% in the last 2 years, they will sell US$ denominated debt and look elsewhere fora better return. BTW, your entire post was restricted to the discussion within US$ denomination, which I already agreed to.

To: Oeconomicus who wrote (515203)	12/24/2003 3:46:05 AM
From: Raymond Duray	Read Replies (2) \| Respond to of 769670

R.D., This was plainly one of your better efforts at spinning the official line and it was well argued. There is however, one flaw that, in the end, completely deflated your argument. You don't have the facts right. In other words, what you say here is a lie: Well, I think everyone here with a handful of properly functioning brain cells knows that we've seen essentially NO inflation in the prices of goods and services, We've experienced double digit inflation in the past year in medical costs, private higher education, fresh fruits and vegetables, meat products, grains, gold, the CRB index basket of commodities, housing in many MSAs, etc. It's simply a lie to say that there is essentially no inflation. It would be more true to say that the Federal government and the FRB are engaged in an open conspiracy to manipulate inflation data in order to stiff entitlement program recipients who rely on COLAs, and to dampen worker's wage expectations.