NYT: U.S. Affects a Strong Silence on Its Weak Currency

[Bradley in DC]

http://www.nytimes.com/2007/10/10/business/worldbusiness/10dollar.html?th&emc=th

U.S. Affects a Strong Silence on Its Weak Currency

The Fed chairman, Ben S. Bernanke, recently told a Congressional hearing that the dollar’s value remains strong in other ways. “The value of the currency can also be expressed in terms of what it can buy in domestic goods — the domestic inflation rate,” Mr. Bernanke said in response to questions about the dollar from Representative Ron Paul, Republican of Texas and a long-shot candidate for the Republican presidential nomination. Noting that inflation remains low, Mr. Bernanke suggested that the dollar’s weakness was not a source of concern to the Fed.

[Chelle]

Well, it is obvious these guys don't go to the grocery store themselves... low inflation my arse!

The dollar is strong in other ways?? WTF would those other ways be??? Maybe they burn well in the fireplace or something, but you sure can't buy much with one.

LIES LIES LIES...... I am so sick of this!

(sorry.... off rant):mad:

[angelatc]

http://www.nytimes.com/2007/10/10/business/worldbusiness/10dollar.html?th&emc=th

U.S. Affects a Strong Silence on Its Weak Currency
“The value of the currency can also be expressed in terms of what it can buy in domestic goods — the domestic inflation rate,”

So even though inflation makes it worth less domestically, it's still looks better than gauging it against other currencies.

I swear these people just like to hear themselves talk.

[Pete]

Yeah, just wait until all those dollars come streaming into the U.S. economy, buying up U.S. property. We're going to see some crazy-ass inflation.