In my prior comment I wasn't trying to imply anything other than the situation presents the risk of increasing inflation. And make an attempt at humor with the "this time its different" phrase since its a popular quote.

Joe,

Even so, I'm still not sure what other options are open to the US right now, for the reasons I listed. My belief is that the USD is just worth too much WRT other currencies. Drawing it down so that we can become competitive is a problem. We do not want to compete directly, as that will necessitate a drastic reduction in the standard of living for the average American. Technology or no, we can't compete head to head against foreign industry that is unregulated. Our best bet seems to be to make foreign industry choke on their own success by making consumers out of their countrymen. How long it will take for them to demand a standard of living on par with us is the question.

Hedge