You had strong dollar policy, some of the most heroic of the entire fiat-currency era.
The housing bubble never would have reached such obese proportions had it not been for Greenspan's weak-dollar policy.
Reagan stood for across-the-board marginal tax rate cuts and a strong dollar policy.
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This mania would never have reached the proportions it did had the Fed and Treasury had a strong-dollar policy.
And there's one ripe issue they've largely skirted: the Bush Administration's weak-dollar policy.
These errors were compounded by the Bush Administration's weak-dollar policy (pursued in the hope of improving the U.S. trade balance).
In all fairness to President Obama, his weak-dollar policy follows the bi-partisan footsteps of Presidents Richard Nixon, Jimmy Carter, George H.
America's new dollar policy may be less absurd than its old one, but it is still a bit of a muddle.
Feckless dollar policy from Treasury has joined with impressive economic illiteracy at the Fed in ways that have eroded the dollar's credibility.
Indeed, absent improved dollar policy that tilts toward strength and stability, the economic portion of their presidencies will almost certainly fall short.
The politics of making a weak-dollar policy explicit could be disastrous internationally.
Over the past few years, an implicit weak dollar policy by the Federal Reserve has stimulated enormous growth in the U.S. stock market.
However, the currency soon began to slide again, after ambivalent comments from US Treasury Secretary Larry Summers about his government's strong dollar policy.
If the U.S. adhered to a strong-dollar policy, commodities would not be going up as much and digital technologies would be plummeting even faster.
But the Administration and the Fed should adopt a strong-dollar policy and tell the markets what measurement they are going to use to guide monetary policy.
So when dollar policy favors weakness, as it did in the 1970s and the last ten years, the value of the income streams investors are buying similarly declines.
While they would naturally prefer to have exchange-rate stability with their major trading partners, our weak dollar policy threatens them with price inflation unless they let their currency rise.
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Some market participants speculate that Phoenix finds it more worthwhile than bigger insurers to bring such suits because each multimillion-dollar policy it voids represents a meaningful reduction in its liabilities.
Reagan favored a strong dollar policy that slayed an historic inflation, and drew skyrocketing investment capital to America from around the world, resulting in an historic, 25 year, economic boom.
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No, the Bank of Japan, unlike John Snow, America's treasury secretary, really does believe in a strong dollar policy and is prepared to put its money where its mouth is.
You see headlines, traders are bearish on the dollar, gold is rising, the dollar is weaker -- and yet the administration keeps on saying that they have a strong dollar policy.
Housing is alleged to have corrected, but the real, and economy-enhancing correction is yet to come if and when the U.S. returns to sound dollar policy so that the economy can start growing again.
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For example, from 2000 to 2007 under the weak dollar policy of President George W. Bush, the 10% increase in industrial production was a full 8 percentage points less than the expansion of real GDP.
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In the Reagan years, there were tax cuts, real nice ones, on the income tax, down at the top from 70% to 28%, in the context of strong-dollar policy and a low, stable gold price.
Mr O'Neill was an unequivocal advocate of a strong dollar policy, even though many economists have believed for some time that a weakening of the greenback will play a key part in bringing the deficit down.
But that cheap dollar policy actually only discourages the investment in America essential to getting the economy booming, as investors fear lower returns from a declining dollar, inflation, and the boom and bust cycles that such policies cause.
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As for dollar policy, what if he and his Treasury secretary communicated early on that dollar policy would resemble that which was mostly good under Reagan and Clinton, as opposed to clear communications to the markets that his Administration wanted the greenback to weaken?
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On the other hand, when dollar policy tilts toward strength, as it did in the 1980s and 1990s, the income streams investors are purchasing rise in value, thus serving as a lure for investment capital that will be better protected by virtue of sound dollar policy.
If Ben Bernanke, who has been given another turn as chairman of the Federal Reserve, would decisively declare that the Bush era's weak-dollar policy is over and that the Fed's monetary policy will henceforth be guided by commodities in general and gold in particular, the value of the dollar would soar--and without a single greenback having been withdrawn from circulation.
President Bush exacerbated the problem, further pumping up the housing bubble with his cheap dollar monetary policy, under the illogical, outdated, Keynesian thinking that a cheap dollar expands the economy by promoting exports.
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