"Bush whacked dollar"
Editor:

The continuing weak dollar policy of this administration is a disaster. Every time the Federal Reserve cuts interest rates it results in a greater supply of money, which is intended to stimulate the economy via cheaper borrowing to invest.

Did I miss something somewhere or wasn't it cheap money that got our major banks and lending institutions into the economic mess we are in now via their "creative financing" policies? Who has had to bail them out anyway? Who will have to continue to pay for the fallacy of a "cheep money" policy?

You and me!!!

Every time the Federal Reserve lowers interest rates there is less incentive for foreign investment in our economy as there are greater returns on their investments elsewhere. Less foreign investment further weakens our economy. Every time our dollar weakens, the price of oil increases and our economy suffers.

The time has passed long ago for this Administration to stop this catastrophic devaluation of our currency and act to support our plunging dollar value. We are paying the price at the gas pump and with ever increasing prices for nearly all consumer goods.

Who's kidding who anyway? This is just moderate inflation? It's us who will be the sacrifices in this Administration's costly game of "Dollar Folly" - higher taxes and greater inflation.

The politicians of both political parties flaptheir gums and point their fingers at each other - it's an election year. What else can we expect?? Who knows what the next bunch in Washington will come up with, but something has to be done (and soon) to shore up the "Bush whacked dollar" and to restore foreign confidencein our government.

The way things are going we will all need a wheelbarrow just to carry our paper money to the grocery store.
Don Knapp
Laguna Beach