The American Spectator

Reader Mail

Hold That Baton

2.29.08 @ 12:01AM

(Page 3 of 4)

You don't need a Kemp-Gramm "Blue-Ribbon" committee, the answer is right in front of us, but unfortunately, Mr. McCain lacks the credibility to deliver this speech no matter who writes it.
-- Tim Reed
Highlands Ranch, Colorado

When you cut through all the fog surrounding the value of the dollar one truth emerges: the devaluation of our currency is being done to help the irresponsible: those who bought homes they couldn't afford, banks who made risky investments, those who believe maxing out their credit cards is an entitlement, etc., etc.

Responsible Americans who save and spend wisely? The feds have two words for us -- and you can't print one of them.
-- Arnold Ahlert
Boca Raton, Florida

Mr. Hillyer is right. Please send his article to the President and John McCain ASAP.
-- Joseph D'Ambrosia

We have had words in the past; some angry, some not. I believe we ended on a happy note.

The subject article was interesting and informative in pointing out the problems facing us. It was, however, manifestly vacant of solutions. It is great to propose strengthening the dollar but would you mind suggesting a way to do this? I believe in one of our prior exchanges, I mentioned my experience with various European currencies, whose governments tried to prop up their value. They all sooner or later realized the error of their ways and abandoned this idea, letting the market decide the value of their currencies. This is the only solution.

The real way to combat stagflation is to strike at the source and remove the barriers to economic growth. Industry is presently so burdened with meaningless regulations that it can scarcely move. Oil and other energy companies are prevented from developing the abundant resources that this country has. The threat of multi-billion dollar lawsuits discourages any but the most foolhardy of starting up needed refineries and chemical processing plants, not to mention nuclear power plants. And note that I haven't even mentioned the inflationary pressure of meaningless adherence to a phony carbon-emissions hoax.

And Jack Kemp and Phil Graham are going to lead us out of the wilderness? Give me a freaking break!
-- Les Arbo
Daphne, Alabama

Sound dollar -- strong economy makes sense, but what specifically should be done other than talk about it? I guess I'm asking Mr. Hillyer to get in the weeds and wonkish. If we know what to ask for we can demand it not only of the White House, but Congress too.
-- Michael Tomlinson

Quin Hillyer replies:
I did not go into detail about solutions here for two reasons. First, because I was writing in Sen. McCain's voice, and no presidential candidate would be expected to get into such detail. Second, and more importantly, because I linked to my two previous columns which did so in some detail. This column did so by linking to further, more erudite, more solution-specific columns than my own; and in this column. I summed up a larger discussion of the subject thusly: THE COMBINATION OF an immediate "float" of interest rates with an announcement of a long-term bias towards dollar restoration. Beyond that, I have gone even further into the weeds in some blog posts by relaying what several economists tell me about HOW to effect the "long-term bias towards dollar restoration." The answer: Selling (and/or buying, as the case may be) dollar-denominated assets. Finally, it should be noted that fiscal and policy also affects the dollar's value, at least indirectly, and there are numerous things that could be done on that front -- but, alas, no Democratic Congress is likely to do them any time this year.

I do, however, thank both Arbo and Tomlinson for keeping me on my toes, as good readers should always do!

HELL TO PAY
Re: Jennifer Rubin's Closed Broders:

Jennifer Rubin writes, regarding Hillary: "If you treat people like dirt, they are not going to cut you much slack, at least once they are reasonably certain you won't be president."

Former Friends of Bill, beware. When Hillary resumes her day job as de facto senior Senator
from New York, she'll still be packing a wicked left jab and right cross.
-- Dan Martin
Pittsburgh

GET YOUR INDULGENCES HERE!
Re: Rick Arand's letter (under "When Readers Attack") in Reader Mail's She's With Bubba:

Letter to the Editor

topics:
Taxes, John McCain, Bill Clinton, Business, Global Warming, Constitution, Law, European Union, NATO, Conservatism, Energy, Oil