The economy is sailing through dangerous, unchartered waters, and Henry Paulson and Ben Bernanke, the helmsmen, seem confused and unsteady, adding to pessimism about the outlook for U.S. GDP growth and jobs ... The Feds inadequate response to the credit crisis is undermining the exchange for the dollar against the euro. Cheap dollars permit Europeans to bid up the price of oil, further pushing up U.S. gasoline prices and exacerbating the U.S. economic slowdown.

















