Politics | Current Events | Stuff

Trying to make sense of things by looking at causes and understanding their effects. Using science to discern what's real and relationships to determine what's of value. Curious about everything. www.samanthaclemens.com

Wall Street Journal editorial in praise of… Obama?!?

Well, what do you know? The Wall Street Journal praises Obama’s support of a stronger dollar. They agree with Obama that the price of oil has increased in part due to the weak dollar, in direct opposition to the Bush administration which has maintained that it is due to increased demand relative to the supply. They (the WSJ and Obama) disagree on the cause and effect of the US economy and the strength – while Obama says that the way to strengthen the dollar is get the American economy going, the WSJ believe it is the reverse – that strengthening the value of the dollar is the way to strengthen the US economy.

Strengthening the dollar would help the economy — by making the U.S. a destination for capital, and especially by reducing the inflation in food and energy prices that has pounded the American middle class. Those price hikes may yet tilt the economy into a recession it could otherwise avoid.

The WSJ then challenges John McCain to state his opinion….


Posted by Sam on Aug 11 2008 under Economics - domestic, Economics - International, Energy, Politics



Leave a Comment

You must be logged in to post a comment.