Hmmm...Dollar slide vs. Euro began in 2004. "W" was unelected in 2000. US had strong dollar policy for four years after "W" took office.
Originally Posted by Roger Hicks
Hmmm...Current dollar price of a barrel of oil is around $55 (not $75 which was the peak price last Summer).
Hmmm...Fed Reserve sets interest rate policy which directly influences dollar trading value - not W.
Hmmm...Single largest US trading partner has been for many years and remains Canada. So relative trading value of USD$ vs. CDN$ much more relevant than Euro.
Hmmm...Other largest trading partners for finished goods (oil, as a commodity. is multi-sourced) are Japan and China both of whom have huge trade surpluses with US.
Hmmm...China has refused to revalue Renimbi despite repeated requests by US to do so in order to address serious trade imbalance.
Hmmm...Fed adopts "low interest rate, cheap dollar policy" beginning in 2004 in order to achieve effective revaluation of Renimbi.
Hmmm...China and other "tiger economies" have now begun to buy Euros vs. Dollars in seeming confirmation of Fed strategy.
Reality, US trade and economic interests are in Western Hemisphere and Asia - not Europe.
Reality, Americans do not wake up every day weeping and gnashing their teeth because Europeans don't like us. In fact, with each and every passing day, Europe becomes less and less relevant to America; particularly as the ever rising tide of new American immigrants arrive from Latin America and Asia, not Europe.
Yes, Roger, simple economics. And perhaps it should begin to dawn on you that America increasingly does not need Europe and will slowly begin to realize it does not care about it either.