Three crucial words President Obama failed to mention in his speech show why he has been unable to improve our economy: U.S. dollar.
Since Obama came to office the value of the dollar, as measured by the DSY Index, has fallen 11% thanks to the Federal Reserve’s monetizing our country’s growing debt . During the eight years of the Clinton presidency, our last sustained period of economic growth, the value of the dollar increased 20%.
A strong and stable dollar is the key to prosperity. A stable currency encourages capital formation, the first step in businesses and entrepreneurs investing in plant, equipment and employees. This is why no country in the history of civilization has improved its standard of living by debasing its currency.
Obama will not make America the first.
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*Monday through Friday morning - schedules of President, VP and Secretary of State and her diplomats
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