"Greenspan concerned with weak dollar" (Well DUH)

[iceman_419]

Greenspan, being the intellectual genius that he is, as just now come out to complain about a weakining dollar. That is nice except that the dollar has been weaking for over a year now. There have been reports on it, and it isn't just luck that made the pound, ero, aqnd other froms of currency stronger than ours. All the U.S. does is buy buy buy and we never sell sell sell. Our exports suck and nobody wants to buy our stuff anymore. Greenspan is coming out now, after months of talking up the economy. If anyone has any repsect for Greenspan as an economist I would be shocked. The man should step down and should be replaced by someone much more competent imediatly.
http://money.cnn.com/2004/11/19/news/economy/fed_greenspan/index.htm?cnn=yes

[BlueEyedSon]

1. About f*&king time!

[NewJeffCT]

2. The EU is concerned as well

Saw an article this morning about how the EU is considering an intervention - i.e., a concerted effort to buy dollars to drive up their price. Japan is also considering it as well.

I will try to find the link.

[Tamyrlin79]

3. I wish they would NOT buy dollars...

That would be the best way to hamstring this administration.

It would suck for us, but it sure would be helpful in the geo-political sense.

If the Europeans are smart, they will stop propping up the dollar now, while they still can. What they are considering doing is nothing more than economic appeasement for the Bush administration.

[Menshevik]

4. Propping up the dollar...

The EU is worried that a very strong Euro/weak dollar will hamper its ability to export products to the US because their products would be more expensive to US consumers. Both the European Central Bank and the Bank of Japan might consider intervening if the situation worsens. It's more of a survival technique than econ appeasement to the Bush admin. The Bush admin doesn't care about the falling dollar and would not like to see the EU or Japan try and prop up the dollar.

SecTreas Snow is running around Europe telling everyone that the US supports a strong dollar, but the Europeans aren't buying it (and who would? besides the mindless Bush followers?)