Building a Better Monster

The end of the U.S. dollar as the world's go-to currency began this year, as world banks put 63% of their cash in Euros and Yen over the summer, a stunning reversal from all of recent history.  With the Fed printing greenbacks like monopoly money to pay for the Obama administration's many spending programs that we can't afford, and low interest rates depressing the greenback's value, Fed chairman Bernake has killed the "meltdown" monster by creating a bigger one, making our dollar worthless to comsumers and foreign investors alike.

The problem is, we are paying off the massive debts incurred by Bush and Obama with dollars...dollars that are dropping in value, and foreign banks can't afford to overextend their dependence on the sagging greenback.  But raising interest rates and slowing the printing of money to strengthen the dollar will slow down any economic growth we may be producing and extend our recession.

This, ladies & gents, is why you cannot fix a recession or depression with government spending.  The governemnt can't afford this rampant spending that seems to be mainly going to Democrat-aligned groups like unions and the indigent (so much for "shovel-ready" projects).  And the spending hurts our currency's value, and leaves the government in an ever-increasing portion of our lives.

And Congress is about to stick us with paying for a disaster of a healthcare bill,and even a second stimulus bill.  Hang on to your wallets, folks.

Nolanbuck