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12/16/2004 12:24 AM ID: 45120 Permalink   

Bush: US has "a Strong-Dollar Policy"

 

As he met with Italian Prime Minister Silvio Berlusconi, President Bush pledged that the US has "a strong-dollar policy" and he pledged that he will bring the issue to Congress for resolution. He hopes Congress can lower the country's deficit.

This announcement comes after the US reported October saw a record $55.5 billion trade deficit. US manufacturers have benefited from this because it makes their products cheaper to buy abroad. Bush hopes people will buy dollars if deficits fall.

Recent steps taken by the US include another hike in interest rates and proposals by Bush to reform Social Security. Bush hopes that privatizing part of it will help lower the deficit. His plan involves investment accounts for younger workers.

 
  Source: www.voanews.com  
    WebReporter: JFURY Show Calling Card      
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ASSESS this news: BLOCK this news. Reason:
   
  14 Comments
  
  Oh yea sure  
 
He pledges alot of things, make alot of promises, swears he will do so much, he also hopes and prays alot, he is all talk no action. Didnt he say similar shit last time? What happened? The dollar got weaker and weaker, and still is getting weaker, and your deficit blew out to all time record levels.
Why people voted someone as incompitent on economy back in office is beyond me.
 
  by: Whipd+Kreem     12/16/2004 04:46 AM     
  hes no businessman  
 
He does not know how to run an economy/budget of any size just look at his history
 
  by: rj2   12/16/2004 05:49 AM     
  And by  
 
a 'strong dollar policy' he must be referring to the Canadian Dollar. :P
 
  by: treyjazz   12/16/2004 07:56 AM     
  @Whipd+Kreem  
 
"Why people voted someone as incompitent on economy back in office is beyond me."

:)

Funny you should ask that - I was going to ask the same thing about John Howard. How could the Aussies DO such a thing . . .
 
  by: case     12/16/2004 08:24 AM     
  Not so dumb perhaps  
 
A weak dollar is the only thing that compensate for the staggering 500 billion dollar trade deficit that the US has wowed observers with in just the 10 first months of the year. It's a new all time record - thanks to the US wanting to play war in stead of governing.

Weak dollar = better export = more US jobs + fewer euro jobs. It's good on the short term but of course, if you kill too many jobs in europe you won't have anyone to export to.

Bush *has* to say he is comitted to a strong dollar, beacuse officially he is. Unofficially he would of course like to see the dollar down another 40-50%. So EURUSD will continue to rise (1.5 at least, more is likely). And throughout this decline, Bush will maintain that it is the policy of the US to keep a strong dollar.
 
  by: mberg     12/16/2004 09:19 AM     
  ahahah  
 
since the day I was born, I waited this moment...when the cnd will be higher than the usd, funny shit is gonna happen
 
  by: Pas Content   12/16/2004 10:30 AM     
  @Mberg  
 
Fine in theory, but read the last sentance of the 2nd paragraph.

People are starting to sell dollars, and not accept them back. If bush continues this way, the dollar will be worth less than enron shares
 
  by: Necralis   12/16/2004 03:44 PM     
  Strong agriculture too...  
 
It's also the first time in 50 years that there's been no agricultural surplus in the US.

No money, no rights and diminishing agriculture... I wonder exactly how much it will take for people to wake up... maybe they'll never wake up?!?!
 
  by: method_uk   12/16/2004 06:00 PM     
  "Strong Dollar Policy"  
 
yea... and I have a "Big Penis Policy"... but that doesn't mean it IS big. :)
 
  by: sheniferous   12/16/2004 09:55 PM     
  @case  
 
>> Funny you should ask that - I was going to ask the same thing about John Howard. How could the Aussies DO such a thing...

Well John Howard is actually a great prime minister.
Latham - the Labour elect - would have been the worst thing to happen to Australia.
He is the George Bush of Australia.

He crashed a local councils buget - I think went over board by about 17 million - which is a lot for a local council.
He broke a taxi drivers arm in a arguemnt over something really trivial.

He is the moron - not JH.
 
  by: neester   12/17/2004 02:41 AM     
  If I  
 
remember correctly the taxi driver started the arguement....

Not that either of the two choices were any good.
 
  by: Necralis   12/17/2004 02:46 AM     
  @method_uk  
 
The barbarians are at the gates and they're still not waking up. Rome, your fall has begun.
 
  by: Mister crank     12/17/2004 11:09 PM     
  bush learnt his economic skills from  
 
Bush learnt his economic skills from Karl Rove in a
weekend ..... you should read the book "Bush's
Brain" and then see the movie ... it explains this
sort of thing ... so blame Karl Rove ...if you've got
the balls ...caus he'll come after you
............wooooooo (scary music)
 
  by: rory182     12/18/2004 11:23 AM     
  Interesting comment about Howard....  
 
It just shows that wherever we have what we in the West call 'True Democracy' the candidates have little to differentiate themselves. I vote for the tosser in the blue, No, vote for the tosser in the red. The winner is..... A Tosser. Ah, bliss, we are free, we have 'Democracy'
 
  by: bag     12/18/2004 11:58 AM     
 
 
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