randym77: >>It's not the weak dollar that bothers me so much, as the reasons behind the weakness: our twin deficits, the trade deficit and the budget deficit. We consume more than we produce, and we spend more than we collect in taxes. We maintain our lifestyles by borrowing from foreigners. China could collapse our economy by selling off their dollars and refusing to buy our bonds. Of course, it's not in their interest to do that; we're their biggest market. But if the deficits keep increasing and the dollar keeps weakening, foreigners will be more and more reluctant to invest their money here.<<

The answer is to let capitalism loose. Cut corporate taxes. Cut capital gains tax. Get the Federal Reserve out of the way. Slash the budget of government by half. The deficits will vanish in five minutes, just as they did in the late 90s.

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Message edited on: 11/23/2004 09:26

Message edited on: 11/23/2004 09:28