So,...What? Now, all of the sudden, the Dollar Bubble is going to be
the NEXT BIG THING?
Why now? OK, the TRADE DEFICIT IS OUT OF CONTROL, AND MASSIVELY
STRUCTURAL,.....but is that news? Or have we finally found the straw
that breaks the camel's back?
Unfortunately for the dollar, Dubya was STUPIDLY RE-ELECTED.
Because a NEW WHITE HOUSE TEAM IN JANUARY would have been hugely
reassuring to all those nice foreigners, who are required to "buy our
debt," to keep THEIR, AND OUR ECONOMIES, "AFLOAT" ON GREENSPAN'S SEA
OF GREENBACKS!
And, the US is "double dog broke" on entitlements like Social
Security Medicare and Medicaid. But many of "the rich" are treating
these entitlements as optional "gifts" to an otherwise undeserving
citizenry.
Nothing could be further from the truth. MANY PEOPLE RELY TOTALLY ON
SOCIAL SECURITY AND MEDICARE FOR THEIR VERY SURVIVAL!
THIS ISN'T LIKE SOME MILLIONIARE DECIDING WHETHER TO GO TO PARIS OR
CANCUN FOR THE WEEKEND!
PEOPLE WILL LITERALLY DIE OR STARVE WITHOUT THESE "ENTITLEMENTS!"
Can we really have grannys sitting out in the cold on park benches?
And, if most people had known that the entitlements won't be there
for them, THEY PROBABLY WOULD HAVE HAD MORE KIDS!
BECAUSE, IN THE 19TH CENTURY, HAVING SIX OR SEVEN KIDS, WHO
SURVIVED, WAS THE ONLY REAL "SOCIAL SECURITY" BACK THEN!
AND THE ALTERNATIVE? THE DREADED "COUNTY POOR FARM!"
Additionally, do we really want a bunch of "senior citizens" in the
workforce? Remember when Bismark "invented retirement pensions" it
was to GET THE OLD PEOPLE OUT OF THE JOB MARKET SO THE YOUNGER ONES
COULD MOVE IN AND SUPPORT THEIR NEW FAMILIES.
IF YOU THINK OLD AGE RETIREMENT IS "EXPENSIVE" JUST WAIT TILL
EVERYONE, YOUNG AND OLD, ARE SCRABBLING FOR THOSE MINIMUM WAGE JOBS!
IT WON'T BE PRETTY!
What is to be done? Well, a lot of things. But saddly, the new
Kongress is deliberately ignoring the real issues.
FIRST, THE US DESPERATELY NEEDS A SINGLE PAYER NATIONAL HEALTH CARE
PLAN THAT COVERS EVERYONE. AND NOW! NOT LATER. PLEASE NOTE THAT
THE "REST OF THE WORLD" HAS HAD THIS PLAN FOR DECADES! ONLY THE US,
AND SOME SUB-SAHARAN AFRICIAN NATIONS DON'T!
SO, IT'S A LIE TO SAY WE ARE CLUELESS HOW TO DO IT! JUST PICK A
PLAN! CANADA? ENGLAND? AUSTRALIA? FRANCE? GERMAN? EVERYONE HAS
THIS EXCEPT THE US! AND, THAT'S WHY WE ARE SO "UNCOMPETITIVE" IN THE
GLOBAL JOB MARKET.
IF THE RICH FEAR RATIONING? ALLOW FOR THEM TO BUY MEDICAL SERVICES
"ON THE SIDE." AND PAY FOR IT THEMSELVES. THE HEALTH CARE DEBACLE
IS JUST KILLING THE US ECONOMY NOW....THE WILL TO DO SOMETHING MUST
BE FOUND.
But how to pay for it? Well for one thing Washington could STOP
INVADING OTHER COUNTRIES, AND GET A DEFENSE BUDGET THAT IS IN LINE
WITH THE REST OF THE WORLD.
WITH ONLY A TINY DECREASE IN DEFENSE SPENDING, AND A ROLL BACK OF
DUBYA'S TAX CUTS FOR THE RICH, WE COULD EASILY FUND NATIONAL HEALTH
CARE FOR ALL AMERICANS.
ONCE THE HEALTH CARE ISSUE IS SOLVED, THE TRADE DEFICIT WILL START TO
DECREASE...AS US INDUSTRY IS NO LONGER FORCED TO "FLEE AMERICA" TO
FIND EMPLOYEE HEALTH INSURANCE "OFF SHORE!"
YES, I KNOW....WHAT ABOUT THE "SPECIAL INTERESTS!" WELL, THAT IS
REALLY THE WHOLE PROBLEM, ISN'T IT! ALONG WITH THE INCREIBLE
STUPIDITY OF THE AMERICAN PUBLIC!
Hmmm....maybe Americans are just a hopeless case after all, and
intelligent and rational people should simply start looking to
emigrate out the US to more sensible parts of the world....like
Euroland? Australia? Singapore? Even some Latin American countries.
....or perhaps Canada?
UNLESS AND UNTIL THE US KONGRESS STARTS TO GET REAL ABOUT WHATS WRONG
WITH THE AMERICAN ECONOMY--THINGS LIKE THE TRADE DEFICIT AND MASSIVE
MILITARY SPENDING AND LACK OF NATIONAL HEALTH CARE;
THE DOLLAR DILEMMA COULD BECOME THE TORPEDO THAT FINALLY SINKS THE US ECONOMY EVEN YET!
TIME IS RUNNING OUT FOR THE DOLLAR.
AND, IT'S USUALLY BETTER TO ACT---BEFORE THE PANIC SETS IN?
DON'T YA THINK?
Postscript: Follow the declining dollar at this convenient link:
http://www.bloomberg.com/news/markets/currencies.html
