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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (132680)	4/4/2013 7:31:52 AM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

True, there's the offset of the flight from worse paper into USD. That's a tailwind against the headwind of our own devaluation. But when Obama's people say they want to kill the dollar, I believe them. Obama does what he says he'll do. That I give him ample credit for. The rest can't be so easily corrected. It could be if we had a different culture. But I believe in the 70s, we were more Austrian. In the 10's, we're Neo-Keynesian thoroughly. I think the probability of substantial deficit reduction through Congressional action is now under 5%. Our real hope for deficit reduction has nothing to do with Congress, but rather with energy and housing. Give credit to the oil and gas companies and to Bernanke for those two. Oh and yes, I'll give credit to Bernanke for housing. A child can see that what he's doing directly benefits housing in the short run. Over the longer run, he's just blowing another bubble. All the bad actors from the last go round are up to their same old tricks and everyone thinks it will end better this time. We never learn.