Quote:
Originally posted by Rich
Bush's incompetence is going to make my country stronger... and Europe and China much stronger. You are correct that Bush is going to destroy your economy and collapse your dollar, but it won't take long for the world to start using Euros. Uneducated people don't realize just what the effect is going to be when the USD stops being the world's reserve currency. It'll be the worst thing to happen to your country under Bush, worse than 9/11, worse than Iraq, worse than the war against China.
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Another economics genius.
The US treasury is HAPPY that the dollar is temporarily weak. The Banks in the EU are DESPERATE to get the Euro down, (I was at dinner with 2 VERY high level bankers in Munich in May).
Reason? The weak dollar is greatly helping US exports, as well as attracting foreign business investments. The strong Euro is KILLING EU exports, as well as sending world business investment into other markets, resulting in unemployment levels that average TWICE what they are in the US.
In the long term, the US dollar will need to come up in order to balance trade prices for foreign goods that the US MUST have, but in the short term it is one of the reasons why our economy is rebounding so fast from the post dot-com boom, combined with the trillions lost in Sept 11th.
