04-02-2004, 04:33 PM
The inflation isn't imaginary, Bush is spending money that doesn't exist. Not much, but enough to drive the US dollar down. It isn't apparent because currencies are measured agaisnt the US dollar, meaning they see their currency increase in value, and assume something is happening to them. I don't know how long that spending will last, but it's sure making the EU happy: as soon as Bush got in office, the Euro began climbing. Just for perspective, in June, it was 80 cents US to the Euro or so, and now it's around $1.20. All because of the US dollar plunge.
It may turn around yet, but issues like that don't seem to be of a very high priority with post-war Iraq going sour. Time will tell I suppose.
It may turn around yet, but issues like that don't seem to be of a very high priority with post-war Iraq going sour. Time will tell I suppose.