Wednesday, February 27, 2008

No math this Wednesday, just numbers.

Yesterday, the inflation numbers for the U.S. were released, and they weren't good. The commodities I keep track of, gold, silver and crude oil, all jumped in price. So did all the major foreign currencies with respect to the dollar. The USD, an index which tracks the dollar, shrunk under 75 for the first time.

Also for the first time, a Euro now costs $1.50. I've shown this by putting pictures of the two coins side by side with the area of the Euro 50% larger than the dollar coin. Poor old George Washington deserves better, and so do we.

Sadly, the living George W. doesn't deserve better, and we are getting what he deserves. He has presided over a laissez faire screwing of everybody but the absolutely richest people in the country, and even the richest Americans are finding that their billions of dollars have lost a lot of lustre in the last seven years.

Years ago, Bob Dole spoke of "Democrat wars", that most of the wars we got stuck in were during Democratic administrations. He was right when he said it, as far as that went. In a similar fashion, we are now experiencing a "Republican recession", since most of the economic downturns of the past 100 years have begun in Republican administrations. We need a lot of things to change in our economy for us to pull out of this. It's not all government's fault. We are spending a lot more than we take in right now, both at the federal level and at the personal level. Way too much of that spending has been on George W. Bush's favorite toys, the wars without end in Afghanistan and Iraq. John McCain has made it clear he sees no way out. We have to elect a president who isn't tied to these disasters and doesn't want them to continue. Someone who can get this country back on the right track.

You know. Before a Euro costs $2.00.



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3 comments:

dguzman said...

And oil costs more than $100 a barrel... oh wait, that already happened.

Some speaker is coming to Penn State this week to give a presentation on going back on the gold standard. Now I remember my eighth grade history stuff (vaguely) but am I wrong in thinking that it's impossible for us to return to the gold standard, given our national debt?

Zoey & Me said...

Amen to that!

Matty Boy said...

I don't know about the gold standard. We still have Fort Knox and an even bigger gold reserve in New York, but most of that gold we are holding for other people. It doesn't belong to the government or even to other Americans.

Go figure.