Dollar policy troubles allies

[UpInArms]

http://www.dfw.com/mld/dfw/business/7899615.htm

BOCA RATON, Fla. - The United States and its major economic allies were arguing Friday over how best to deal with the slumping U.S. dollar and America's soaring budget and trade deficits.

The dispute surfaced at the winter meeting of the Group of Seven wealthy industrial countries -- the United States, Japan, Germany, France, Britain, Italy and Canada -- at a luxury resort on Florida's Gold Coast.

The U.S. delegation, led by Treasury Secretary John Snow and Federal Reserve Chairman Alan Greenspan, found itself at odds with officials from Europe who contend that the dollar's decline is hurting their growth prospects by jeopardizing European exports.

U.S. allies also fear that America's soaring trade and budget deficits threaten to destabilize the global economy.

Snow, asked about the worries before a meeting with Gordon Brown, Britain's chancellor of the exchequer, deflected the talk toward a safer subject, the balmy Florida weather: "This beats a snowy Washington, D.C. It lifts people's spirits."

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[teryang]

1. Washington's so called "free trade" policy

Heads, I win, tails you lose.

[Chicago Democrat]

2. Low Dollar is the pits!

If you like Parma ham or English gin or Italian suits or French Absinthe or Amsterdam hookers or German beer. Low dollar means America is going bankrupt.

Keep on printing those T-Bills! Just like printing money.

[ignatius]

3. You can tell Snow is a Bush Republican through and through,

when asked a relevant question he changes the subject to the beautiful, balmy weather in a swanky resort.

Don't ask about the 34% increase in the screwed up Medicare bill less than 2 months after it is ramrodded through Congress and it's effect on the already bleeding budget deficit, don't ask about the 20% fall in the $ since this illegitimate cabal stole the election, don't ask about tax cuts for the top 1% that will rape our treasury and our children for many, many years..look at the purdy sky..don't worry be happy...