Thread: Barack Obama - president of the USA

I doubt seriously that a US President has the ability to fundamentally change US culture. He can influence it, but a sea change of the sort you hope for is unlikely.

What the US needs a weak dollar -- at least 25% weaker. This would make foreign goods and services expensive enough to spur domestic production, which would increase tax revenues and reduce the fiscal deficit, as well as the trade deficit. It would also produce a dose of real austerity, which might even encourage the realism you are hoping for.

MM

What could Obama do to overcome the world's valuation of the dollar? A better solution would be for the global currency market to do the heavy lifting.

MM

Originally Posted by MusicMan

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What the US needs a weak dollar -- at least 25% weaker. This would make foreign goods and services expensive enough to spur domestic production, which would increase tax revenues and reduce the fiscal deficit, as well as the trade deficit. It would also produce a dose of real austerity, which might even encourage the realism you are hoping for.

MM

I can't remember the last time the US economy was strong with a weak dollar but I can remember every time that our economy was strong we had stronger dollar. I have no faith with a weak currency.

A strong dollar is fine so long as there is not a huge current accounts deficit and there are plenty of domestic jobs. However, our current consumption-based economy cannot be sustained indefinitely. Sooner or later, the US economy has to employ at least a few US citizens, or the value of the currency is moot.

The US currency is artificially inflated by petrodollars. That puts US workers at a distinct disadvantage, as they have to make many times more in terms of absolute value, just to be able to live as well as, say, a Canadian.

If the Gulf states go forward with their "Gulfo" commodity currency for oil transactions, then the greenback can be fairly valued. This will spur domestic production, which will increase employment, which will increase tax revenues and corporate incomes, which will decrease the fiscal deficit and current accounts deficit.

What's not to like? That Chinese sneakers and Japanese cars will be more expensive? In that case, people will buy the less expensive US goods, which will be a Good Thing.

MM

Regardless of whether you like him or not he's doing exactly what people elected him to do, and he's being as successful as anybody can be expected to be given what he has to work with.

So, yes, I consider Mr Barack Obama to be a good president. He was given a mandate from the people in a democratic election and he's following up on his campaign promises. In the tough times that he is living in this is as much as you can hope for from a president.

Shirley YOU MUST BE JOKING!!! Obama is BIGGER joke than Carter was....

Jacob/dd Obamas father was Muslim...his Stepfather was Muslim... he grew up in INDONESIA.... He was NOT brought up in middle-class America or a strong family... he came from a totally DYSFUNCTIONAL, NON EXISTENT family.......hard work is NOT what got him to where he's at... the fact that he is BLACK got him where he's at... Blessed you think LOL... he is a CURSE on America....AND THE WORLD!!

If the social system you want isn't here in the US then you can move.

Obama is a good leader because he can negogiate with world leaders in a peaceful way yet be strong when he needs to be. Obama is working for us for a change not just the rich folks but the everyday folks for a change.