Quote:
Originally posted by sperbonzo
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.
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Sorry, I have to say it again for the people that never heard of John Maynard Keynes, let alone know what Alan Greenspan does.