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Reply #78: Is the value of the dollar a factor in the price of oil? [View All]

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aint_no_life_nowhere Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-23-08 01:15 PM
Response to Reply #57
78. Is the value of the dollar a factor in the price of oil?
Edited on Fri May-23-08 01:19 PM by aint_no_life_nowhere
If it is, isn't there something Bush could have done to prevent the dollar from losing more than half its value since he came into office? I'm talking about this government's policy of lowering interest rates and engaging in excessive borrowing and deficit spending to fund insane wars of conquest. Supposedly, the lowering of interest rates is killing the dollar, as foreign investors don't want to own it. But lowered interest rates were actively pushed for by ChimpCo through the Fed because they need to borrow, borrow, borrow in order to fund their militaristic adventures.

Maybe other Presidents share some blame. Maybe the American public does as well. But what's happened under Bush is extraordinary. Oil has more than quadrupled in price under Bush. Is it just coincidence that this sudden and rapid increase which has taken everyone by surprise occurs at the same time that the U.S. dollar takes a plunge?
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