Is Clinton to blame that the American Dollar value fell below the Canadian Dollar today?

Question

here is the currency exchange webpage http://www.xe.com/ucc/convert.cgi
compare $100USA to $100Canadian,
will the conservative media blame George Bush for our finacial problems, or will they blame this on the Clintons too.

Answer 1

they should blame Clinton effing idiot

Answer 2

The dollar has been falling against the Euro since 2002. Hardly something which the "Democrat controlled congress" can be blamed for. The fall of the dollar can more sensibly be blamed on a few things: (1) Huge government deficits as a result of the Iraq war. (2) The American people's love for imported goods, resulting in a substantial trade deficit (the US imports a lot more than it exports) (3) The prospect of the Euro taking over as the world's "reserve currency" reducing the demand for USD in foreign coffers). The proximate cause, however, is the trouble banks have gotten into with bad housing loans. The Federal reserve, rather than just letting Countrywide, Citi, and all those others go bankrupt, helped them out by lowering the fed funds rate target, so they could borrow short-term money more easily to get through the crisis. This meant that rates were lower in the states than other countries, so investors moved their money out, selling USD and buying other currencies to do so. Some people have the habit of blaming whatever bad happens in the economy (or whatever bad happens in general) on their least favorite political party, but that is really a distraction. If the US was a major exporter of goods and services, its dollar would go up. Since it is a major importer, its dollar goes down. No act of congress would change that. Congress can, however, take action to reduce the government deficits, which hopefully will happen once congress gains enough support to prevent the needless spending of money on the war.

Answer 3

You don't blame this on Bush or on Clinton. You cannot place the blame on anybody who has no control over our money supply. You can only place the blame upon Alan Greenspan and Ben Bernanke, as well as everybody else ever associated with the Federal Reserve.

The value of money is determined by how much is in circulation. Of course, it was Nixon who yanked us off the Gold Standard, but Woodrow Wilson's Federal Reserve is the root cause of the problem (well, the rest of his ideas were stupid as well, such as a global crusade for Democracy that led to the rise of Hitler, the IRS, violating the 1st Amendment, and Prohibition). The answer is not to complain and blame the other side for it, the solution is to eliminate the cause of the problem, which is the Federal Reserve and to return to sound money (meaning a gold and/or silver standard, not a paper standard).

Answer 4

Doubt it. Some Fox commentators might try to make the case, but no one with a tenth of a brain will try to claim that Clinton's legacy of buget surpluses, peace and prosperity would be to blame when they have Bush's record of debt, war, chaos and mismanagement to look at.

Answer 5

The ONLY reason our dollar is falling is because of increased debt, and rate at which debt is increasing. Clinton did what he could to balance the budget, and if he'd had a third term he COULD have balanced the budget. When Bush got into office he couldn't wait to give it all away to his rich friends. The Republicans have completely abdicated their position as the party of fiscal responsibility.

Answer 6

Rush Limbo says that the war is Clintons fault, and that the bad economy is a result of the war that is Clintons fault.

Answer 7

US dollar falling against other foreign currency is not all bad, it's great news for companies that export products. It make US products cheaper and imported products more expensive to purchase with US Dollars

Answer 8

Gosh you mean that they are at parity with the US dollar and they have national medical care too. That's just not fair.

Answer 9

NOt totally, it is the federal reserve act of 1913 that set this country spiraling downward.

RRRRR

Answer 10

I think it has more to do with the crashing housing market as well as all the debt we owe to China.

Answer 11

yes