Administration does not rule out currency intervention

[WoodPeckr]

After 8 YEARS Dubya discovers the USD is weak!!!!!
Dubya doesn't get more 'out of touch' than that ...can you see John McBush & bottie pulling up the rear here!
Perhaps he will re-hire 'Heck-of-a-job' Brownie to rescue the USD...as Brownie resuced New Orleans after Katrina!....


Catch a falling dollar: Administration changes tune on currency as gasoline prices top $4

Monday June 9, 6:10 pm ET
By Martin Crutsinger, AP Economics Writer


WASHINGTON (AP) -- President Bush's forceful call on Monday for a stronger U.S. dollar in the world economy may be coming a little late for Americans fed up with gas prices topping $4 a gallon and steadily rising costs of other imported goods.

As he left for Europe, the president said the U.S. is committed to keeping its currency strong, a point he clearly felt needed to be made after the dollar's long slide against the euro and other international currencies.

Bush's words signaled his administration's concerns about the economy. The sinking greenback is one reason that fuel prices are at record levels, and the run-up in energy prices is battering consumers and worsening the risk of recession.

"A strong dollar is in our nation's interests. It is in the interests of the global economy," Bush said outside the White House.

Bush and Treasury Secretary Henry Paulson appear to be easing away from their hands-off approach to managing the value of the dollar. While a strong dollar has long been stated U.S. policy, that usually has amounted to no more than rhetoric unbacked by specific steps....[more]

 

[FOOTSNIFFER]

After 8 YEARS Dubya discovers the USD is weak!!!!!
Dubya doesn't get more 'out of touch' than that ...can you see John McBush & bottie pulling up the rear here!
Perhaps he will re-hire 'Heck-of-a-job' Brownie to rescue the USD...as Brownie resuced New Orleans after Katrina!....


Catch a falling dollar: Administration changes tune on currency as gasoline prices top $4

Monday June 9, 6:10 pm ET
By Martin Crutsinger, AP Economics Writer


WASHINGTON (AP) -- President Bush's forceful call on Monday for a stronger U.S. dollar in the world economy may be coming a little late for Americans fed up with gas prices topping $4 a gallon and steadily rising costs of other imported goods.

As he left for Europe, the president said the U.S. is committed to keeping its currency strong, a point he clearly felt needed to be made after the dollar's long slide against the euro and other international currencies.

Bush's words signaled his administration's concerns about the economy. The sinking greenback is one reason that fuel prices are at record levels, and the run-up in energy prices is battering consumers and worsening the risk of recession.

"A strong dollar is in our nation's interests. It is in the interests of the global economy," Bush said outside the White House.

Bush and Treasury Secretary Henry Paulson appear to be easing away from their hands-off approach to managing the value of the dollar. While a strong dollar has long been stated U.S. policy, that usually has amounted to no more than rhetoric unbacked by specific steps....[more]

The European Central Bank seems set to INCREASE interest rates soon, and do so again in a few months time in order to address incipient signs that inflationary expectations are taking root over there.....that could seriously tank the US dollar. So Bernanke and Bush are trying to do some damage control ahead of this move. Some dude in the Bank for international settlements over in Switz. recently bandied about the idea that the euro was starting to get the inflation-fighting cred that the Fed appears to be losing at the moment. In a period of rising inflation fears, that's getting people in government nervous; the US needs foreigners to finance her trade deficits, and reserve holdings are a big part of that. The dollar looks really vulnerable here.

 

[danmand]

The only way the US government can imcrease the value of the $US is
by increasing interest rates. That would not help the economy.

 

[Gyaos]

The ECB can lower theirs, which is too high.

 

[Meister]

Somebody has to tell the American public to just spend themselves out of the recession. Just spend spend spend, (and pile up more debt in the process), it worked in the past. That'll prop up the dollar (for a while).

As long as the Asians keep financing the whole party we'll be good.

btw, the Chrysler building might be sold to some Arab oil dudes in Abu Dhabi. That's good news, at least we'll be sure no airplanes will fly into that building.

 

[Gyaos]

As long as the Asians keep financing the whole party we'll be good.

I hope they start coughing up some women. Women with money.

Gyaos.

 

[WoodPeckr]

I hope they start coughing up some women. Women with money.

Gyaos.

I hope you mean HOT asian women!....

 

[enduser1]

Seriously Woody,

If George Bush tells you the "Dollar is strong" would you buy dollars or sell them?

Me?

SELL, SELL, SELL

 

[danmand]

Seriously Woody,

If George Bush tells you the "Dollar is strong" would you buy dollars or sell them?

Me?

SELL, SELL, SELL

First he prints trillions and trillions of dollars, then he wants the dolloar to be strong.

 

[Gyaos]

First he prints trillions and trillions of dollars, then he wants the dolloar to be strong.

Ah yes, prints too much cash. Like the new $100.00 bill too.

Gyaos Baltar.