Saturday, July 05, 2008

Thursday, July 03, 2008

It's not just US

the economies of the entire world's nations are crumbling.

At the bottom of the article, the suggestion is made that our fellow "rich" nations will express concern about the weak US dollar, namely, that it's causing the rise in oil prices, priced of course in "petrodollars." Of course, that's true, and in part explains the increasing price of oil. But what can the US do? If it decides to "strengthen" the dollar by, for example, increasing interest rates on borrowing, its economy, already in the tank will drop even deeper. If it does nothing, inflation--derived from high oil prices, mostly--will continue to spiral out of control.

Thanks, George.

Wednesday, July 02, 2008

Monday, June 30, 2008

Rebuilding the world

I just watched some mid-range State Department official under the Bush Administration on C-Span. He was talking about supporting and rebuilding Pakistan so that it would be able to suppress terrorists in its midst. Pakistan? Afghanistan? Iraq? Isn't this rebuilding-the-planet thing getting a bit old, and expensive?