The Death Of The Dollar

Dick Morris TV: Lunch Alert!

comment:

Well, this is a nice, factual discussion of the basic problem here.  It may not go far enough to explain why we've got the problem that we do have.

Basically, Morris correctly points out that the dollar is going away as the world's reserve currency and it is Obama's and the Democrat's fault.  They need all of the monetary stimulus in order to maintain political support, and this is coming to the detriment of the greater interests of the nation.

But this is nothing new.  It's been happening with both parties for years now.

It could have been a political issue in the recent presidential campaign, but it wasn't.  Perhaps the point is deemed to be too complex for the average person to understand.  Yet polls show that the public believes something to be wrong.  Clearly, something needs to be done, but without a clear direction being given by the electorate, nothing is going to be done about it.

What I'm referring to is taxation.  The Democrats say that the budget is too far out of balance because the rich don't pay their fair share.  The Republicans say that spending is too high.  Also, that the government is interfering too much with the economy, so that it can't grow the way that it could.  This conflict leads to bad policy and a lack of accountability.

Just another instance of how our leadership is failing us.  The consequences to this are going to be severe and as Morris points out, it will happen sooner than anyone appears to be thinking.