Friday, July 15, 2005

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This is supposed to cheer me up?

In the middle of an essay on the Weekly Standard's web site that is generally upbeat on the economy, Irwin Stezler comes to the paragraph that depresses the hell out of me:

At home, the strength of the dollar will inevitably cut into exports and encourage imports; protectionist sentiment is rising, spurred on by China's attempt to acquire Unocal; it is unclear whether the president can or cares to restrain spending; and his economic team remains closed to outside ideas. "We don't do dissent here," one White House aide told me a few weeks ago. (emphasis added)

Well, that makes me feel much better.

posted by Dan on 07.15.05 at 12:02 AM


Fortunately, they don't do three terms either. Surely there won't be a worse administration next time around. Surely there will be either a competent Republican or Democrat administation.


posted by: sien on 07.15.05 at 12:02 AM [permalink]

Trade gap narrows... sky is falling. Trade gap widens... sky is falling. Bottom line... sky is falling. We get it.

posted by: Mark Buehner on 07.15.05 at 12:02 AM [permalink]

Today's FT is reporting that the Whitehouse has told Senators that the Chinese will revalue the RMB by September. This is unbelievable politics and shows a complete lack of knowledge in dealing with the Chinese and, indeed, a lack of respect.

Unfortunately, they are about to learn that the Chinese 'DO' do dissent!!

posted by: Fraser Dinnis on 07.15.05 at 12:02 AM [permalink]

After a brief interregnum, I have no doubt that the Bush family will be back in charge. Depending on the date, it'll be either Jeb or P. The first will be just as bad to worse, and the latter will make Jorge look like George Washington.

posted by: The Lonewacko Blog on 07.15.05 at 12:02 AM [permalink]

The weak dollar last year had essentially no impact on US trade, so why should the strong dollar this year work? We have repeatedly seen that in the modern world moderate currency moves have little or no impact on trade.

posted by: spencer on 07.15.05 at 12:02 AM [permalink]

It is really "...unclear whether the president can or cares to restrain spending"? It doesn't look unclear to me. Rather, it seems crystal clear President Bush's interest in cutting spending is about a -5 on a ten-point scale. He's never even vetoed an appropriations bill.

posted by: Zathras on 07.15.05 at 12:02 AM [permalink]

What effect will a nuclear war have on this free trade crap: the sky may be falling.

posted by: Dan on 07.15.05 at 12:02 AM [permalink]

I dont care what they say about Bill Clinton, but 8 years of peace and prosperity says it all...

posted by: bdonikian on 07.15.05 at 12:02 AM [permalink]

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