Quote:
Originally Posted by island911
Exactly? -that's tough, because you quite obviously are so far out in left field.
The questions is "can anyone tell me in plain and simple text form why the U.S. dollar is falling so low..?" You then use that to go on a rant about all the different ways it's Bush's fault. --such insight. 
Ironically, part of your rant contains "This is what can happen when we have a low IQ president who has probably never in his entire life paid a utility bill, a tax bill, or balanced his checkbook."
Apparently you believe that national monetary policy is just like "balancing a checkbook." You likely also believe that Al Gores SS "Lock-box" would have been a viable solution as well. (again with a simplistic view of monetary policy).
Really, you are so far off base it's kind of funny. --so keep those nonsensical rants coming. Remember, the more you rant, the more correct you must be.  |
So you actually don't have anything at all to refute what I wrote? No problem.
But let me try to help you out. I did a tiny bit of quick "research" and came up with the following from some guy named Barker who is obviously smarter than I (he gets paid for it
) and lays it out much clearer. Please advise if in your expert opinion he also is "so far off base it's kind of funny" and that like me he thinks that if "the more he rants" then the more correct he will be?
"What causes this drop in dollar value?
1. Trade deficits, the US is importing 800 billion more then its exporting and the dollars planned decline by the Bush people has not improved its deficit.
2. Mounting foreign debt, the Bush people have out spent every administration in history and we borrow from the World Bank, China and Japan to float this war in Iraq and other projects for a new American century.
3. Loss of confidence is growing across the globe. Nothing requires International investors to Continue to invest in the USA or holding US assets they now own.
4. Winds of war and strife drive down investor's confidence. As we threaten Iran and others we become the hornet's nest of angry bees and tend to upset the quiet of economic stability
5. Economic sanctions against Iran and others tend to reflect back on our own economic stability. Iran is reacting to our pressure by threatening to pull out of the Nuclear Non Proliferation Treaty causing many to question the future peace process.
6. Coalitions of defiance such as Hugo Chaves of Venezuela and Evo Morales of Bolivia and others to form an anti American alliance and drive the dollar away using oil as a weapon.
Most of these are caused by misguided or aggressive arrogant government policy. If we do not lose total control, perhaps the next administration can repair some of the damage by sound fiscal policy and improved diplomatic measures. Yet, daily we see the loss of prestige and confidence. Since almost two years of the current Bush policy remains, it may be enough to crush the once-mighty dollar.
The USA is under the auspice of people that profit from higher oil prices and war, so for them this is a boom time and the decline of the dollar is not their concern. The rest of us are not making billions off the war or increased petroleum prices. Nor are we getting rich from future options like Cheney is from Halliburton or the Bush and Bin Laden families are from the Carlyle Group. These people will simply shift the dollars to euros and take the loss because they are wealthy beyond measure.
What can we do to offset this wolf at our doorsteps?
Investing in other currencies may precipitate the decline, but might help diversify your own assets and give you some long-term protection. Changing unsound economic policies and foreign policies that drive down the value of the dollar is essential. But, most of all, Pray.
Good luck America we are going to need it."