When the U.S. turns a blind eye to the consequences of diluting the value of its monetary unit, when we abuse the privilege of supplying the global reserve currency by resorting to sleight-of-hand monetary policy to address our own economic problems – inflating our way out of the housing crisis, pushing taxpayers into higher brackets through stealth – it sends a disturbing message to the world.
The dollar is weak and getting weaker. McCain and Obama are not concerned - their spending proposals will only make the situation worse but they must consider the voters. Bush is busy with other things. Congress cannot be bothered because they're trying to get re-elected. Don't you just love politics?
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