Tuesday, November 23, 2004

Falling dollar, rising euro--A plan to screw Europe?

More on the trade deficit/declining dollar mess. There was an article on Counterpunch (authored by Mike Whitney) in which it was suggested that a falling dollar may be part of the plan. Going to an original source:
Europe and Japan failed yesterday to persuade the United States to address the decline in the dollar, despite talks at a fractious meeting of the Group of 20 industrialized and developing nations. [snip] The U.S. insisted the dollar's decline was not on the agenda at the meeting, while European politicians have been anxious for action to stem the rise in the euro that threatens to bring their economy to a halt.
Ah-ha! Yes--screw all those pesky European countries that refuse to support our invasion of Iraq, and who insist on having all those dumb commie social programs. A diabolical plan. Going back to the Whitney/Counterpunch article:
In other words, dollar devaluation was all part of the Bush Administration's plan. It's one element in a broader strategy to pulverize the EU and force them make changes in their social structure. In fact, the neocons see the EU as their ideological adversary; a veritable spawn of the socialistic menace. A falling dollar is a calculated body-blow to corporate America's biggest rival; that's not an advantage they're likely to give up easily.


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