August 8, 2008

THE WALL STREET JOURNAL: ONE THING OBAMA GETS RIGHT:

The underreported economic news of the week is that Barack Obama favors a stronger dollar. Even better, he thinks a stronger greenback would help to reduce oil prices.

That at least is what the Democratic Presidential candidate told a town hall forum in Parma, Ohio, on Tuesday. “If we had a strengthening of the dollar, that would help” reduce fuel costs, he said, according to a Reuters dispatch ignored by most of the media.

This ought to be a bigger story. . . . We don’t know who is whispering in Mr. Obama’s ear about the dollar, but he’s on to a rich political vein. Americans know instinctively that something is wrong when the Canadian loonie is worth more than the greenback. Over to you, John McCain.

I wonder if this means he’s getting advice from Austan Goolsbee again.

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