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Obama's stimulus packages
Tue, 02/03/2009 3:39 PM | Reader's Forum
Under pressure to pay WW I reparations, Germany printed volumes of deutschmarks thereby extending the Great Depression.
Allegedly, the United States and other nations counterfeited Iraqi currency to destabilize Saddam Hussein's regime. Allegedly, North Korea recently printed millions of US dollars. This behavior causes hyperinflation and degrades financial cooperation between disagreeing parties.
Since printing valueless money and injecting it into your enemy's economy is a traditional act of warfare, and since the inevitable effects discern neither friend nor foe, will this be interpreted by the middle class, small-business majority as an act of warfare by the federal government against the taxpayers of the United States?
Furthermore, since the world's economic system is anchored to the US dollar, how will you prevent the stimulus packages from being interpreted as an act of war by the United States against the world's economies?
Rev. Kenneth L. Towler,
Oklahoma City
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David Dzidzikashvili (not verified) — Thu, 02/12/2009 - 6:49am
If banks won't start lending and public trust in our financial system won't be restored timely, the Obama stimulus package will fail as Bush's package failed. We have to realize that we are putting on ourselves astronomical debt that have to be paid by our and future generation of Americans. But at the same time, risk of doing nothing is far more dangerous and will lead to economic catastrophe. The current economic situation is a double edged sword and how Obama deals with it will determine the success of his presidency.