About This Video
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Published: Wed, 7 Oct 2009
Description: John Tamny on the dollar!
Automatically Generated Transcript (may not be 100% accurate)
" We've got to remember is that we're not paying businesses to create jobs and then to."
" Get good shareholder returns and to create incentives for people hire workers per. Possibly. In efficiently. Is not the path to economic growth that is if you want to create jobs which you have to do is reduce the cost of investing."
" And that should it be to do it now we should cut the corporate tax we should."
" Most importantly strength in the dollar."
" This just encourages and efficient hiring that industrial policy it's the kind of thing that we see in Japan and other foreign countries it's scares me -- we're gonna go down this path."
" Well we could be going down that -- forcing his crew of the world is going off the dollar. Food for us civilians without the economic degree tell us what that means."
" is to achieve cheated the I can't think the more important on the issue right now from the dollar. For the average Americans first stop you're gonna notice that the price involved against you by commercial reasons that gasoline has been so expensive this decade. It's because the dollar's been cheap."
" That's the first -- of -- its second week."
" When currencies are are cheaper when they're losing value investors have to make a choice they say -- we wanted to take a risk on tomorrow's Microsoft or Intel. And have inflation erode any returns are we wanna put our money into safe investments and what they usually do is go for safety."
" Anderson understood why is that dollar. Losing its value what what lessons. Does the American government whether it's Tim Geithner and President Obama. Or those characters over at the federal think they can do whatever they want not what are they not learned from other failures in the past."
" It is that meet the greatest mystery of all. Haven't they figured out that the subsidies for a disaster. Because the dollar was -- haven't they figured out in Zimbabwe that Argentina. Struggled because their currencies -- I can't figure out what they have now learned my argument that anyone who listened. This has long been. Their problem they don't understand what inflation they think that economic growth causes inflation they don't realize there's just too weak currency because inflation. The weak dollar destroyed George -- George W Bush's presidency and it will make Barack Obama failure all the other talk about fixing the economy is missing the major point. -- currencies are cheap. There is very little investment in the productive economy and the result is that the electorate is unhappy. We can fix this so easily but no one in power --"
" But I understand is enough I'm offended by this in his. Europe China. Russia deal going behind our backs in in switching this UNC was trying to get off the dollar to -- they're saying. Screw you America."
" I think that they've got every right to do that we are producing. Paper asset that is increasingly unacceptable. But no one takes seriously. And it's been and it's also very clear that our monetary authorities don't take pictures with Tim Geithner goes toward China and says. Oh don't worry about the dollar what. What what -- you don't worry about the debt you wanna park we we take -- all in the value of the dollar and ended commanded the market the fact that's what we want. We're telling the world. By upper deck. And you know by the way we're just gonna -- value right for your life I think that they're doing a great thing by saying."
" But enough is enough until you get serious about your monetary policy."
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