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Why does the dollar go down when the Fed lowers rates BUT when Clinton was in office and rates were low ....?
Why do the republicans blame high oil prices on the value of the dollar and say the dollar is devalued because of low interest rates BUT when clinton was in office and interest rates were at historic lows the dollar was not devalued and we had the cheapest gas in years?
5 Answers
- 1 decade agoFavorite Answer
Clinton did not have a financial interest in any oil companies as Bush does. There is a very simple solution to our gas price problem. If the oil companies simply told OPEC and such that they will only pay $30 a barrel or no deal, prices would drop soon after. They can demand $110 a barrel all day, but if no one buys it.... Simple supply and demand. We need to take back control on the demand side.
- Anonymous1 decade ago
When Clinton was in the White House, the U.S. had world respect, we weren't throwing billions at a wasteful war in Iraq (military spending -- talk about pork) and Clinton had higher taxes, thus keeping the economy good and keeping this nation out of a deficit. WOHOO George Bush for screwing all that up.
- Anonymous1 decade ago
Rates were never this low for Clinton.
As for gas... Clinton didn't have India and China competing for the gas like they are today. We are no longer the only country that needs gas.
As already said.... do your homework first.
- Beth MLv 41 decade ago
Foreign demand on oil has become immense over the last few years, increasing competition for buying oil and raising prices. It's called supply and demand. Economics 101
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- Anonymous1 decade ago
The rates were never near a low as they have been under this President. Do a but more homework.