With the stock markets so volatile and generally heading in the direction of PLUMMET, who has time to keep track of other economic indicators?
Why, I do, hypothetical question asker! I have plenty of time. I'm a little strapped for cash, but time, I gots it by the bucketful.
The economic news you might not have heard is this. The dollar is going great guns. The dollar shrunk for most of the Bush administration like a tire with a slow leak, but that turned into a fast leak earlier this year and then, STOP!
After mid-March, the dollar started showing strength against all major currencies and then BOOM!
The massive crisis that was first announced mid-September has been nothing but good news (almost) for the greenback. The dollar is pounding the pound, turning the Euro into eurotrash, and whipping the Canadian "dollar" and the Aussie "dollar" the way rank impostors should be whipped!
And now comes the parenthetical (almost).
Those were the preliminary rounds, and now we are playing for the gold medal. The Chinese yuan is holding almost exactly level with the dollar at about 6.83 yuan to a dollar.
This means we are tied for the silver and bronze, with the favorite for the gold medal being... the Japanese!
The Japanese currency is whipping the dollar the way the Japanese all-star team baseball team whips the U.S. national team. Right now, it takes only 99 yen to buy a dollar, and the yen keeps surging while nearly all other currencies are in full flight retreat when compared to the dollar.
Way back in 1933, Adolph Hitler and his pals had plans for a thousand year reich. It lasted 12 years.
Back in the 1990's, Dick Cheney and his pals drew up a Project for the New American Century, starting with the premise that we were the world's only superpower and nobody anywhere could fuck with us. This New American Century appears to have lasted about seven years.
The moral of this story, boys and girls? It's the same moral I've been pushing all month, except in a new situation.
Don't celebrate early.
EDIT: Did I say 99 yen to a dollar? That's so four hours ago. Now it's 97 yen to a dollar.