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Old 04-29-2008, 09:32 AM
 
Location: Albemarle, NC
7,730 posts, read 12,689,324 times
Reputation: 1504

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Quote:
Originally Posted by rlchurch View Post
I'll agree that the Fed job is to control inflation and that recent Fed action could well increase the inflation rate. I don't see any historical relationship between low interest rates and the dollar. Over the period of the dollar's drop, however inflation has been pretty low, so you can't really blame the drop in the dollar against other currencies on inflation, IMO. And interest rates have fallen faster in other periods without affecting the dollar.
Quote:
Of particular interest is whether the Fed hints that this might be the last rate cut for a while, as many experts think, on the ground that further reductions will fan inflation and send the dollar to new lows.
Quote:
But added to the concern is the plummeting dollar, which is spurring rising oil prices, since oil is priced in dollars and oil producers are unhappy when cheaper dollars cut into their income. The lower dollar is also leading speculators to buy oil and other commodities, contributing to global spikes in the price of everything from food to gold.
Fed expected to cut rates, but focus will be on its words - International Herald Tribune
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Old 04-29-2008, 09:39 AM
 
Location: Washington DC
5,915 posts, read 7,238,669 times
Reputation: 948
I don't disagree that part of the oil price increase is a weak dollar. I'd suggest the deficit is much more responsible for the weak dollar than a low interest rate, which is really the byproduct of a low inflation rate.
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Old 04-29-2008, 09:45 AM
 
Location: Alexandria, VA
1,773 posts, read 2,545,965 times
Reputation: 213
Feds = Corporate America w/o government ID
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Old 04-29-2008, 09:54 AM
 
Location: Texas
35,053 posts, read 19,164,936 times
Reputation: 20631
Question When will the FED step in and lower fuel cost????

What makes ANY of you think for one second that the current administration wants to see oil prices lower?
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Old 04-29-2008, 09:57 AM
 
Location: The Lakes Region
3,074 posts, read 4,089,244 times
Reputation: 2344
Quote:
Originally Posted by rlchurch View Post
I'm no friend of Bush, but oil prices are up because of Middle East turmoil and American SUVs, not "speculators." And oil prices are set on the world market and not really subject to US control or regulation. Oil futures regulation has not significantly changed.

The congress could do something about all the taxes added to the oil price per gallon, but they want the money greedy pigs that they are.......


Carrie
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Old 04-29-2008, 11:05 AM
 
Location: Washington DC
5,915 posts, read 7,238,669 times
Reputation: 948
Quote:
Originally Posted by Pawporri View Post
The congress could do something about all the taxes added to the oil price per gallon, but they want the money greedy pigs that they are.......


Carrie
Silly democratic congress thinking that they should pay the bills. Just say "$500 Billion, charge it." like the chimp does.
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Old 04-29-2008, 12:36 PM
 
Location: North Cackelacky....in the hills.
19,556 posts, read 19,255,183 times
Reputation: 2499
Ahhh, care to show WHERE that Democratic CONgress has paid any bills???
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Old 04-29-2008, 12:38 PM
 
Location: Atlanta
738 posts, read 640,655 times
Reputation: 279
Yeah, one of my relatives has been at the Fed for about 30 years. He told me their top priority is to find a way for Wile E. Coyote to catch the Roadrunner. That has been a source of frustration for years! It's the real reason the brought in Bernanke.
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Old 04-29-2008, 12:40 PM
 
Location: Atlanta
738 posts, read 640,655 times
Reputation: 279
Quote:
Originally Posted by jnestorr View Post
Feds = Corporate America w/o government ID
Wouldn't that be w/ a government ID? Otherwise they'd just be Corporate Americans.
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Old 04-29-2008, 12:48 PM
 
Location: Raleigh, NC
9,043 posts, read 11,567,954 times
Reputation: 1392
Goes to show its a big confidence game, like all fiat currency economies.

Eventually, all good scams end badly. People like the Fed chair should be very mindful of what populations of disgruntled citizens do to their leaders when times get bad enough, and I don't mean just to get them fired.

People think money is power. They're wrong. Power is being able to juxtapose about 5 members of the military with rifles, the scapegoat in question tied to a post at the opposite end and yelling "ready...aim...fire!".
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