Obama under fire over falling dollar...Obama's economic policies are working wonders...lol (Congress, Clinton)

[tonyandclaire89]

Hows all that hope and change socialism working out for you...


FT.com / US / Economy & Fed - Obama under fire over falling dollar

[Indurain]

Originally Posted by tonyandclaire89

Hows all that hope and change socialism working out for you...


FT.com / US / Economy & Fed - Obama under fire over falling dollar

Dollar was deliberately depreciated by George Bush and Alan Greenspam in the early years of this decade.

They set the precedent.

keep trawling though

[saganista]

Originally Posted by tonyandclaire89

Hows all that hope and change socialism working out for you...

Much better than all that Disgrace and Failure we used to have.

[floridasandy]

that is what happens when you spend money like a drunk sailor on leave..... (with apologies to sailors everywhere)

[Indurain]

Originally Posted by floridasandy

that is what happens when you spend money like a drunk sailor on leave..... (with apologies to sailors everywhere)

You should have expressed that same advice to Bush and Greenspam in the early years of this decade, amigo.

[floridasandy]

obviously you weren't paying attention because i did! the biggest mistake that our country has made was bailing out the corrupt wall street bankers and leaving the country saddled with enormous debt. we did not fix the system, but rather allowed the banks to hide their toxic assets and foist them on the taxpayers.


we can go back and blame all kind of events in history for how we got here, even back as far as decoupling from the gold standard, but i live in the present and feel that we need to address the issues that are happening in the present. i can tell you that the reason that this is not being addressed is that the same democratic congress / president who voted for these bailouts want it this way!

[summers73]

Originally Posted by floridasandy

obviously you weren't paying attention because i did! the biggest mistake that our country has made was bailing out the corrupt wall street bankers and leaving the country saddled with enormous debt. we did not fix the system, but rather allowed the banks to hide their toxic assets and foist them on the taxpayers.


we can go back and blame all kind of events in history for how we got here, even back as far as decoupling from the gold standard, but i live in the present and feel that we need to address the issues that are happening in the present. i can tell you that the reason that this is not being addressed is that the same democratic congress / president who voted for these bailouts want it this way!

It's easier mentally speaking to blame Bush.

[Icy Tea]

So Obama is just as bad as Bush? That's how you defend him?

[summers73]

Originally Posted by Icy Tea

So Obama is just as bad as Bush? That's how you defend him?

Well, I'm sure they believe he's marginally better. They can't point out how, they just know it.

[Indurain]

Originally Posted by floridasandy

obviously you weren't paying attention because i did! the biggest mistake that our country has made was bailing out the corrupt wall street bankers and leaving the country saddled with enormous debt. we did not fix the system, but rather allowed the banks to hide their toxic assets and foist them on the taxpayers.


we can go back and blame all kind of events in history for how we got here, even back as far as decoupling from the gold standard, but i live in the present and feel that we need to address the issues that are happening in the present. i can tell you that the reason that this is not being addressed is that the same democratic congress / president who voted for these bailouts want it this way!

Hmmmm.

The reason your currency is worthless is because of the following :

1.Clinton balance of trade surplus, became a Bush balance of trade deficit.

2.Clinton budget surplus, became a Bush budget deficit.

3.Clinton balance of payments, surplus, became a Bush balance of payments deficit.

4.A steady USD value under Clinton, became a devalued USD under Bush
(Bush/Greenspam deliberately devalued the USD on F/x).

5.Too many USD are circulating and are held as reserves by foreign central banks - who have now decided to move away from holding dollar reserves.

6.The structure of the US economy does not lend itself to engendering international confidence.
Personal debt levels were/are far too high.
Corporate debt levels were/are too high.
US produces lower and lower wealth to underpin the value of it's currency.

These factors are the reason why your currency is depreciating.