Who do you think was one of the Bush Administration's key players on the economy?
If you say Paulson or Bernanke, you might be half right. But there's another no-name lurking around in the background who tends to be doing the wrong thing at every key moment in the covert history of the Bush (or should we day "Bush League") Republic. His name is Jim Wilkinson.
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No, this is not good journalism. It's a vaguely entertaining conspiracy theory based on the unabashedly biased view that the Bush administration is deliberately destroying the economy (although the reasons why are a bit fuzzy). To be sure, there's a case to be made that the Bush administration sought to weaken the greenback to make US exports more competitve on the world stage - although the White House and Treasury Department have routinedly denied that. This column, however, fails to cite evidence beyond blind assertions and reports by kindred spirits, which - like this story - appear to be more opinion than substance.
Who do you think was one of the Bush Administration’s key players on the economy? If you say Paulson or Bernanke, you might be half right. But there’s another no-name lurking around in the background who tends to be doing the wrong thing at every key moment in the covert history of the Bush (or should we day “Bush League”) Republic.
The column should look at the impact of recent Fed rate cuts on the price of the dollar vs other currencies. The aggressive rate cutting made the greenback cheaper while loosening up credit for consumers and business.
(Yikes! Scrap the rhetoric and get to the facts.)