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Ranchers.net

I've listened to a lot of economic bull on this session, so here comes so more.. I think that the fact that President Clinton broke with tradition and criticized Pres. Bush for running up mushrooming deficits was the most telling economic factor to hit the news lately. He made it perfectly clear to the nation that the only thing keeping our govt. afloat is the fact that all the nations that we have a huge trade deficit with invest their money back into our govt securitys. So we really don't own our govt. anymore. This has a lot of ramifications. First of all it causes the dollar to loose value. It also means we have no clout at the bargining table. So why should Japan take our beef? What can't threaten with trade retaliation because they could cash in their treasury bills and poof we'd have no govt. Same goes for China and Korea. So they essentially have an ax over our head and can keep trading to their advantage. I've heard a lot of complaints about Canadian beef disrupting our markets on this website. But if we are not able to stop the twin deficits from mushrooming I wonder if they will want to sell us beef for worthless dollars. I think the thing all you so called economists are overlooking is the value of the dollar. What good does it do to try and make more money if it keeps getting more worthless? I think this is the issue that will effect us and our children for a long time and I see no way out of the dilema. Our trading partners are too smart to let us start to balance trade and they have the clout. So what next?
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