The U.S. dollar's steady decline in value against the euro and other key currencies may cause agony in European capitals but there is little sign it is rising to the level of a major policy concern in Washington.
Analysts say the steady depreciation not only remains orderly but also carries the potential to help America get its whopping trade and current account deficits, which are widely criticized in Europe, back into better balance.
...In just under a year since taking office last January, Treasury Secretary John Snow has toned down the former hard-line U.S. commitment to a "strong dollar," effectively endorsing the fall by saying its value "reflects the fundamentals of the demand and supply for currencies."
Snow replaced former Treasury Secretary Paul O'Neill, who resigned under White House fire before Christmas last year.
article
See? It's good news. Time is an illusion. It's 1984, not 2004. War is peace. Up is down. You are getting sleepy....sleepy....
No comments:
Post a Comment
Comments are moderated. There may be some delay before your comment is published. It all depends on how much time M has in the day. But please comment!