Thursday, March 06, 2008

Save The Dollar

Resurrect King Dollar
By Lawrence Kudlow
Tuesday, March 4, 2008

If Sen. John McCain wants to run as a candidate of change, and if he’s interested in distancing himself from President Bush on some issues, he should reverse the declining fortunes of the Bush wartime dollar. America’s prestige is on the line.

With inflation spurting in the U.S., the sinking dollar is being ridiculed both at home and overseas. The falling dollar is perceived as a sign of American decline -- which is a very bad sign.

Main Street voters hate soaring food and gasoline prices. Suburban voters who take vacations are very angry. Gold at $1,000 an ounce?! Oil at $100 a barrel?! What’s going on here? Is this America?

The people in charge of the dollar at the Treasury and the Federal Reserve are guilty of dollar neglect. They’re also Republican appointees, and the GOP will take the blame in November. The Treasury says a strong dollar is in the nation’s interest? Huh? The Fed says it’s targeting price stability? Huh?

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We have lost focus on what true strength looks like to the world. It is not just about military might but about the strength of the dollar and our ability to purchase goods on the world market. The strength of the dollar and its buying power could settle world events in past troubled times. If we chose to embargo a nation or product, the power of the dollar would force immediate change. We are now laughed at or scoffed.This needs to be a priority or inflation and low buying power will become a standard of America. Recession is inevitable if the dollar continues to fall.


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2 Comments:

Anonymous Perri Nelson said...

John McCain has managed to make me happy in one small respect. His support for a one-year moratorium on earmarks (Support the DeMint-McCain amendment) can only be a good thing.

5:36 PM, March 10, 2008  
Blogger ablur said...

I would love to see a year. It would be better to grow to a decade but we have got to stop the bleeding sooner or later.

The government needs to start taking its constitutional duties seriously and stop all the finacial pandering to special interest groups.

2:36 PM, March 11, 2008  

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