Showing posts from October 17, 2007

Loving the weak U.S. dollar

Business Times - 18 Oct 2007 US happy with falling value of the greenback By LEON HADAR WASHINGTON CORRESPONDENT NOTWITHSTANDING the rhetoric coming out of the Bush Administration about Washington's steadfast commitment to a 'strong' US currency, it is not a secret that most of this city's policymakers seem to share the view that the falling dollar is good news and that it should stay that way for quite a while. Hence, a friend and long-time critic of the Bush Administration admitted during a recent conversation that 'one of few things that the Bush team did right was not to talk it up as much as the Clinton Administration did'. Many Americans who associate a strong US economy with a strong US dollar 'just don't get it', he explained. 'Strangely, while it is common knowledge in China, Japan, Malaysia, Argentina, and many other countries that an overvalued currency is a curse, in the US this is much less understood, even among opponents of current