It’s not how much you want to borrow (getting more into debt) that matters at this economic stage.
Further weakening the dollar, only weakens your buying power. Think for a moment about your grandparents, the elderly on a fixed income that this directly effects with their living standards.
Lower wages, less purchasing power of the dollar = a poorer nation. Is this an intentional move that Bernanke is striving for a Change of Currency, and to use this as a tool to restructure when or if the dollar becomes worthless, and no other nations have faith in it? I hope not.
Our recovery is dependent upon every individual tax paying citizen, that actually have some sort of income from a job. Not based upon Borrowed money, that is creating more debt, in a weak economy.
Putting more money into the tax payers pockets, so they can spend, will boost business and the economy.
Gasoline and Oil prices continue to bleed us more into poverty!
Bloomberg gives higher oil price projections.
Mr. President, you have an opportunity to save our economy and nation, by giving the US Citizens $1.00 per gallon gas, and you’ll see the savings re-generated back into the US Business directly, effectively boosting the US from this economic disaster. Think of the weekly savings for everyone. The extra cash used for food on your table, or that electric bill to pay. From living costs, to trucking of merchandise, all directly linked to the cost of Gasoline and a barrel of oil.
How much do you spend a week going to and from work, if your one of those lucky ones that still have a job?
Oil Commodities need an government reform, where the US Economy is not held over the barrel. Pull the free manipulative fluctuating cost of oil off the market, price fix it. Crazy, yes perhaps, but with the US need for oil, and the quantity we consume as a nation?? Consider Brazil’s new oil reserves recently found. Structure a FIXED Price deal with Brazil’s new President, and make it possible for the US Tax paying citizens to Save some money to put back into the economy. In turn Brazil’s trade and economy may be able to reform the favelas to actual neighborhoods, and bring schooling there poor children.
Definitely for free enterprise trading, but when a nation is vulnerable to Algo Trading glitches, and perhaps nations with other intentions than ours, it’s time to look for solutions, other than offering U.S citizens to become more in debt.
WGG /TradeOn