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zappaisgod
horrid asshole

Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 8 months
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Re: Diminishing Value of the Dollar [Re: zappaisgod]
#3487588 - 12/12/04 06:54 PM (19 years, 2 months ago) |
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I see the simpletons have shaken off their hangovers
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phi1618
old hand

Registered: 02/14/04
Posts: 4,102
Last seen: 13 years, 9 months
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Re: Diminishing Value of the Dollar [Re: zappaisgod]
#3487812 - 12/12/04 08:00 PM (19 years, 2 months ago) |
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The decline in the value of the dollar is a mixed bag. It's bad for people who want to travel overseas, but good for people who want to export stuff. It's good for people who own assets overseas, and bad for people who own assets priced in American dollars.
It's also not really all GW's fault. We have been building up a massive current accound deficit over a long period of time, and have reached the point where foreigners own more American assets than the reverse. This current account deficit is partially a result of an abnormally overpriced dollar, but also puts significant downward pressure on the dollar.
There's far more to the story, some of which I've already posted in other places, and most of which I'll never understand.
It is my firmly held opinion that Bush is a horrible president and many of his policies and his politics are bad for our nation and the world. However, I don't approve of blindly asserting that everything wrong with the world is the fault of our (admittedly faulty) leader.
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zappaisgod
horrid asshole

Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 8 months
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Re: Diminishing Value of the Dollar [Re: phi1618]
#3487873 - 12/12/04 08:14 PM (19 years, 2 months ago) |
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Thank you for an informative and not insane rant.
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AaronEvil
The GuitarVillain


Registered: 09/27/04
Posts: 1,706
Loc: California
Last seen: 12 years, 9 months
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Re: Diminishing Value of the Dollar [Re: phi1618]
#3489327 - 12/13/04 01:23 AM (19 years, 2 months ago) |
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Im not saying it is all his fault, but lets face it, he did hurt the situation more than he helped it.
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There is not a lot of difference between a fox hole and a grave; but knowing that you dug your ditch and climbed in anyway.
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Phred
Fred's son


Registered: 10/18/00
Posts: 12,949
Loc: Dominican Republic
Last seen: 9 years, 1 month
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Re: Diminishing Value of the Dollar [Re: AaronEvil]
#3489837 - 12/13/04 05:31 AM (19 years, 2 months ago) |
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Quote:
How about his increase in defense spending after 9/11 which was around 49.5% if I am not mistaken. How about how when he did that he didnt decrease spending. How about how he continues to increase funding to the war in Iraq and he does not cut funding from anywhere else. Those are all factors in the value of the dollar. It all relates back to the economy.
1) None of the above factors -- while they do have an effect on how the dollar is valued on the international market -- could be classified as "interfering with the currency market." You do nothing more than state the obvious -- everything congress does affects the dollar in some form or another.
2) Every measure you mentioned was a measure passed by congress. None of them were passed by executive order.
pinky
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AaronEvil
The GuitarVillain


Registered: 09/27/04
Posts: 1,706
Loc: California
Last seen: 12 years, 9 months
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Re: Diminishing Value of the Dollar [Re: Phred]
#3491331 - 12/13/04 01:13 PM (19 years, 2 months ago) |
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Congress approves but they are not the ones who initially put the ideas out there. They were proposed by Bush to congress.
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There is not a lot of difference between a fox hole and a grave; but knowing that you dug your ditch and climbed in anyway.
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Phred
Fred's son


Registered: 10/18/00
Posts: 12,949
Loc: Dominican Republic
Last seen: 9 years, 1 month
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Re: Diminishing Value of the Dollar [Re: AaronEvil]
#3491870 - 12/13/04 02:58 PM (19 years, 2 months ago) |
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And if Bush had not no one else would have? Be realistic. These weren't even close votes, you'll notice. There was bi-partisan support in each case. How does this equate to Bush running roughshod and forcing his will on congress?
pinky
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AaronEvil
The GuitarVillain


Registered: 09/27/04
Posts: 1,706
Loc: California
Last seen: 12 years, 9 months
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Re: Diminishing Value of the Dollar [Re: Phred]
#3492032 - 12/13/04 03:25 PM (19 years, 2 months ago) |
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Im not disputing if someone else would have proposed the idea, the fact is Bush did propose it. Like I said before, I am not blaming Bush entirely, but as the President you would think he would have done more to help the economy. If I am not mistaken the dollar value hasnt been this low since his father was in office.
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There is not a lot of difference between a fox hole and a grave; but knowing that you dug your ditch and climbed in anyway.
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