Monday, October 18, 2010
Obama Econ Team Encourages Weak Dollar
Even Turbotax Tim Wants Strong Dollar
It’s hard to find anyone, even in the Obama team, who wants to weaken the dollar still further. Yet, Bernanke still puts downward pressure on the dollar in the hope of stimulating employment. It’s a strategy that hasn’t worked yet, yet the Obama team keeps burning dollars. The cheap dollar helps American exports, they say, but American companies aren’t hiring and unemployment continues to increase to record levels. Tim Geithner was one of about 200 economists who think Obama's cheap dollar policy is hurting America.