Posted by Steve Markowitz on October 17, 2009
This Blog and others have expressed concern over Treasury Secretary Tim Geithner’s failure to properly pay his taxes in the past. Prior to being confirmed as Treasury Secretary it was discovered that Geithner did not pay certain taxes that were due. He then paid them after he was “caught” during the confirmation process.
Secretary Geithner was recently interviewed by CNBC’s reporter and commentator Maria Bartiromo. I post below a small part of that interview that related to the US dollar: Read the rest of this entry »
Posted in Tim Geithner, US Dollar | Tagged: CNBC, Maria Bartiromo, Sarah Palin, Taxes, Tim Geithner, Treasury Secretary, US Dollar | Leave a Comment »
Posted by Steve Markowitz on October 13, 2009
The American dollar has been weakening in recent months, becoming a concern in world economic circles. Should the dollar weaken too much, our infant recovery would be in jeopardy.
While a weakening dollar can improve American exports by lowering their cost to overseas customers, this devaluation also comes with significant risks. For example, as the dollar decreases in value, the cost of imported goods increases raising our inflation and lowering the buying power for American consumers. Even more problematic, the Untied States is running huge budget deficits that are being financed by other countries with excess funds. Should the dollar fall too far or too quickly, these lending countries may become unwilling to loan the United States additional amounts, or to very least increase the interest they charge us for further borrowing. That would lead to higher interest rates for American consumers and create further disruption in the economy. Read the rest of this entry »
Posted in Deficits, US Dollar | Tagged: Budget, Budget Deficits, Congress, Currency Markets, Deficit, Deficit Spending, Dollar, Greenback, Noble Peace Prize, Noble Prize, President Obama, UNited States, US Dollar | Leave a Comment »