The dollar is sinking. Oil is hitting new highs. Commodities are strong. Foreclosures are soaring.
I have been writing about this for ages. These trends are different aspects of the same issue: our purchasing power is falling precipitously.
When you go to Europe and you find everything so expensive it is because your purchasing power has fallen dramatically relative to the European purchasing power.
And nobody seems to care.
Hello, is anyone listening? The weak dollar is a sign we have serious problems facing us. Economic problems. Productivity problems. Rising protectionist tendencies. Complete failure of our diplomatic efforts to gain the trust of our allies. Our military adventures.
And Bernanke did not answer the question about the dollar. That's the Treasury problem, he said.
I respectfully suggest that a collapsing dollar is everybody problem.
Hello, does anyone care?
More on http://www.peterdag.com/.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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