Tuesday, March 18, 2008

Hey brother can you spare a Euro?

This shit is getting out of hand. I used to kinda joke about the destruction of the dollar. But now the word destruction seems more and more appropriate. What is happening in a nutshell is 99% of the population has been thrown under the bus in order to make billionaires on Wall St. happy.

Oil is up 1000% over the past 10 years. The dollar which in 2000 could buy about 1.2 Euors is now worth 0.63 Euros. And yet the Fed's #1 priority is making sure Wall St. has enough money to pay $50M bonuses. Ahh but the dow is up 400 and your 401k just make $1000. Today. Woo Hoo! Except that you lost $1100 in purchasing power today by the dollar's continued devaluation.

Fear not though American. American Idol is on tonight. George Bush is at the helm. Obama and Hillary are poised to take over. All is well.

1 comment:

Anonymous said...

Great blog, BTW.

It is the new truth: if it's good for Wall St., it's bad for you.