Recap of Pres. Bush's speech, similar to Mr.Jeffery Sachs

"No quick fix exists for oil prices. Higher prices reflect basic conditions of supply and demand. The world economy – especially China, India, and elsewhere in Asia – has been growing rapidly, leading to a steep increase in global demand for energy, notably for electricity and transport. Yet global supplies of oil, natural gas, and coal cannot easily keep up, even with new discoveries. And, in many places, oil supplies are declining as old oil fields are depleted."

Pres. Bush is open to any ideas of how to handle high gasoline prices, and inflation and Commodity prices through the ROOF... at least Archer Daniels and many other earnings reports that have came out as of late, such as Potash Corp. have made record profit...do we take money supply out of economy, maybe buy domestic assets then in return use MS to purchase foreign assets, maybe increase interest raise rates, depreciate exchange rates, lower prices, increase demand, reduce supply, increase supply? what shall we do? ride our bikes, easy to say for urban residents whole live 1 minutes from their job, what about families, suburban citizens and people such as my friends, who tend to be lazy, all in all, no easy way, I will be studying Monetary Policy very closely, as I have been for many months now, fiscal can only help to get the checks out and increase aggregate demand here on the home front, what about off shores.
We wanted increase in Current Account, therefore, drop the buck and raise exports, while same time, we consume most imports? We haven't even began to visit the sub prime crisis and all other problems that I haven't mentioned because I must run now, really this time...

MPM