A strong currency != a virile nationhood. Name for me a country, from Brazil through China, that isn’t actively trying to devalue its currency. It’s common (and smart) policy in a global economic downturn, to the extent that some are talking of a “currency war” over who gets to do it.
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p>I don’t trust Bernake, but I’d trust him less if he weren’t trying to do this.
seascrapersays
They are devaluing because the US is devaluing. I hope you like your savings, wage or salary being cut because that’s what’s happening. Great for those poor people and the downtrodden too.
If the Rs get their tax cuts back to Bush’s level, I expect to see gas prices rise even higher than the $4 they hit before, because we have had several years of weakening in the dollar. Not just gas but food and everything else. We have low prices now because of weak demand, bankruptcies and fire sales. Do you want this to hit when Obama’s trying to get re-elected in 2012? Not only that but Bernanke will likely slam the brakes at the point, and we could go into another recession.
A strong currency != a virile nationhood. Name for me a country, from Brazil through China, that isn’t actively trying to devalue its currency. It’s common (and smart) policy in a global economic downturn, to the extent that some are talking of a “currency war” over who gets to do it.
<
p>I don’t trust Bernake, but I’d trust him less if he weren’t trying to do this.
They are devaluing because the US is devaluing. I hope you like your savings, wage or salary being cut because that’s what’s happening. Great for those poor people and the downtrodden too.
… afraid ofninflation at this point, are you?
If the Rs get their tax cuts back to Bush’s level, I expect to see gas prices rise even higher than the $4 they hit before, because we have had several years of weakening in the dollar. Not just gas but food and everything else. We have low prices now because of weak demand, bankruptcies and fire sales. Do you want this to hit when Obama’s trying to get re-elected in 2012? Not only that but Bernanke will likely slam the brakes at the point, and we could go into another recession.