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Why plummeting dollar hurts you
Where was everyone years ago when this problem was developing? What did you think the outcome was going to be with banks giving anyone with a heart beat any amount they wanted to borrow. Did anyone write a story then? I remember a lot of cheerleading for the real estate boom. Now everyone complains that oil goes up in price! That is rediculous. This really has nothing to do with a certain particular politician and Bernanke did not cause this either. How come Sir Alan Greenspan hasn't been mentioned in this discussion? Maybe we shouldn't look to these folks for answers. Just a thought but I also remember a tech boom that brought in a new economy. How could anyone still give them any credibility? They are not problem solvers but problem creators. Without a gold backed currency debts can be expanded to the limitless fantasies of politicians and bankers.... This is the problem! Has anyone noticed the gold price and how oil is relatively flat when priced in gold? Why would anyone not believe in a centralized planned economy, but believe in a centralized planned monetary system? This whole situation is nuts and to see people pointing fingers after the fact is crazy. Yes prices have to rise because we have flooded the world with dollars. Again, what did you think was going to be the outcome? To now act suprised is pathetic. This whole situation was easily predictable. So quit crying about it.— April 1, 2008 10:11 p.m.