Bush Made the Dollar Stronger

With all of the problems facing the economy, there's a small piece of good news. The dollar is becoming stronger as compared to the Euro, Pound, and the Yen. With our currency worth more, it may mean that we exit the Great Recession before other parts of the world.

So where does the credit lie? For President Obama, who has been appointed "savior" of the United States? Well, no. What about Tim Geithner, who has taken time out of not paying taxes in order to rescue us all? Well, not him either.

It was George W. Bush.

While some of his policies initially weakened the dollar, some of his last policies in office helped the dollar rally and may be able to make our economy stronger in a couple of years.
How did he do it?

1. By helping to inflate the banking industry, we got a jump on other countries. And while this spending may have been too much, it was able to keep the dollar from collapsing.

"The U.S. was one of the first nations to respond to the weakness with aggressive monetary policy measures. So it could be one of the first countries out while Japan and Europe might be the last ones out," said Kathy Lien, director of currency research at GFT, a foreign exchange and futures brokerage firm.

2. By pushing forth pro-drilling and pro-alternative energy policies, he made it clear that the United States would try and solve its own energy needs. This helped bring down oil prices, which helped strengthen the dollar.

Unfortunately, today we are spending well beyond our means. If we continue this, inflation will rear its head again and we will face a declining dollar.

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China's Economy In Trouble

The Chinese economy has been growing massively in the last decade. It's been growing at about 10% a year and was looking to explode into 1st World status. But the global slowdown is even affecting the Chinese.

Unemployment is now estimated to be at its highest levels since the Communist Party took over in 1949. Job creation and preservation has become a top priority of China's leaders, who are acutely aware of the role a deteriorating economy played in the 1989 Tiananmen Square protests.

Economists say that if the growth of China's gross domestic product dips below 8 percent -- a healthy rate in most countries -- it would be a disaster here. The reason is that the demand for jobs would far outpace China's ability to create them.

While the dollar was weak, American factories were able to produce more, as they were able to sell it to other countries with strong currencies. If the Chinese economy continues to be weak, then American industry could take the initiative and gain back a lot of prestige lost over the last 30 years.

Shock as Obama Declares Dinars American Currency

Washington--

A visible pall was over the White House as President Obama announced that the American dollar was the currency of the past. During a press conference, the President announced that the United States dollar was going to be phased out and the Iraqi Dinar would become the official currency.

"The way I look at it is this," the President said, "We, uh, really, uh, destroyed the country of Iran-- Iraq, and we need to make it up to them. And, uh, by using their currency, we can, uh, begin the process of healing."

Reporters from MSNBC called the decision "heroic" and "long overdue." Reporter Bret Baier from FoxNews asked President Obama if the American people would accept his decision.

"One thing, Fox," the President responded, "Is that the American people gave me a clear mandate over that old guy. You, uh, sometimes have to be bold and contiguous."

When asked why he used the word contiguous in his statement, the President asked that Baier be escorted from the room.

White House Press Secretary Scott McClellan explained later in a written statement, "The Iraqi Dinar was once worth over three dollars. It is unlikely that the dollar would be worth three dollars. In fact, it is only too often that I had to exchange three dollars for one dollar at the grocery mart."

The Dinar is expected to become popular in places such as Massachusetts and Manhattan. Parts of California already use the Iranian Rial as official currency.

"This is a great day." said San Francisco resident Destiny Rainfall, "Hopefully there will be the day when we will not need to use money. Someday." Rainfall then got on her high horse. It is unknown if she will ever get down.

Stock up before it's too late!