I find it interesting that the administration’s incompetence at managing its financial affairs is resulting in the devaluation of the dollar which is frustrating to our third world trading partners. As a result of our fiscal policies, in order to keep their currencies from rising in value relative to the dollar they have to do one of two things. They have to buy our dollars and stash them in their international monetary funds, or they have to turn on the money spigot as well and flood their own economies with worthless money and thus undermining their own currencies which in turn will keep them from rising in value relative to the dollar.
We are all aware that for a long time China has been stashing our currency to the tune of a few trillion dollars in an attempt to keep their currency cheap relative to ours so they can stimulate their exports to us and likewise import our manufacturing jobs to them. Now they have announced that they will spend money with the same reckless abandon like what Obama is doing in cooperation with a reluctant congress that he holds at gun point with his verbal threats and the influence that these threats hold on the voting recipients of his policies of whom he has demonstrated an ability to control absolutely.
And of course the stock market loves to hear this because this means there will be lots of money floating around China to buy American products. I guess the Chinese have come to realize that they need to fight fire with fire and out consume us.
However I do believe that they are no match for Obama. His ability to spend money he does not have is unsurpassed and I believe they are out matched in this regard. Thus I must contend that Obama will win this currency war hands down. It will be a slam dunk for him. In fact, he is so good at it that he doesn’t even realize that he is fighting this war. It comes that natural to him. I'm just waiting for his dedicated followers to claim he is a genius because of it. And once he figures out, after considerable effort, why people are complementing him he will certainly act like he knew what he was doing all along and call them “his” policies. And his dedicated followers will admire him for his foresight. Occasionally he will lean over to one of his advisors and ask "can you explain to me once again why I'm being credited with this?" And his reply to him will be “just keep smiling, it’s not important.” And he will put his chin up in the air just so and give us his famous Obama smile of confidence that his dedicated followers cherish and time magazine will snap a another picture for their cover and write glorious accolades about his accomplishments. It reminds me of an infant suckling on the bosom of its mother. How cute they are.
"is resulting in the devaluation of the dollar which is frustrating to our third world trading partners"
I think the Obama economic policy goal is to make America a peer to the third world. That is what he means by "leveling the playing field". Equal mud huts for all except Palaces for the ruling class(him and his kind).
Apparently you are not aware that Mort Zuckerman used to advise the spender-in-chief. Mort has openly stated on McLaughin that he advised O to promote that exact policy to address the trade deficit. So I would say O is completely aware. Mort also openly did not support or vote for O in the last election.
Ok, so what you are trying to tell us is Obama has encouraged the Fed to print worthless dollars so that he can address the trade imbalance and that all the other contrary reasons that are being given to us by the Fed are just smoke and mirrors.
I think you miss the point. There are much higher priority reasons for the Feds actions and even if they were aware of the spillover affect into currency valuation, which I am sure the Fed is, it is a coincidental side effect. Trust me, if it were to have caused the dollar to be stronger instead and thus worsen our trade situation, they would continue to print worthless dollars anyway. Obama has shown almost no interest what so ever in trade policy unless it impacts the health of the green companies that the US government has invested in because that is personal. The rest of the country could sink for all he cares.
The health of our economy today, or the lack of it, is more closely tied to the currency manipulation by our trading partners than it is tied to anything else. The problem is that Obama doesn’t seem to notice this. It’s barely on his radar. He pays lip service to the issue but takes no effective action that would have a discernible impact.
You should be concerned about this as it is all of our jobs that are leaving the US. This is not a Democrat or Republican issue. It is a matter of self preservation for us all. Even if you are in business for yourself you won’t have customers to sell to if those customers have no money to spend.
Just wondering if anyone here remembers that the Prez has no power to spend money. All spending originates in the House [aren't those guys mostly Repubs], and is authorized by Congress. The Prez can only make requests.
Monetary policy is set by The Fed which is a semi-private, independent agency.
I know that someone will be able to explain why BO is at fault for things the Congress and the Fed do .... is it because he's a Dem or Black or his middle name proves he is a Muslim ... oh yeah, and now he's gay too.
I love you guys ... you too Katy 'cause you are a generous person.
Oh boy here it comes....put your helmet on Raybans.
Hence all money is worthless. The more they print to throw the problems in the economy the more worthless it is. And you think the people on "Doomsday Preppers" are kooks?
One day people will wish they had bought that rifle to protect their chickens from the hungry thieves.
Since we don't have someone that is willing to place tariffs on China in retaliation for currency manipulation, the side effect of debasing the dollar may be the only thing that will save any more American jobs from going overseas. I don't think that this is Obama's intension but I do believe that when fewer jobs get exported as a result that he will have no shame in claiming that it was a result of his policies. And he will be right. It was his policies however it will also have been an accidental by product of those policies. He will take credit anyway. I guarantee it.