Wednesday, February 13, 2008

Great Moments In Presidential Predictions

Bush, 3 months ago.

Asman: "A lot of folks are worried that it's fallen too far. Is there anything more that you can do, as president, to assure the world that the dollar should maintain its value and increase in value?"

Bush: "Well, we have a strong dollar policy, and it's important for the world to know that. We also believe it's important for the market to set the -- to set the value of the dollar relative to other currencies. And if people would look at the strength of our economy, they'd realize why, you know, I believe that the dollar will be stronger. And it is low inflation, low interest, 15 months of uninterrupted job growth, 3.9 percent GDP growth in the third quarter. I mean, the underpinnings are strong. Now, we in the U.S. government, my administration, believe the market ought to set the, you know, the relation of the dollar to other currencies."

The dollar was at $1.45/euro then. Today it's at...$1.45.