Host,
What are you going to do to celebrate $100 a barrel oil, when the moment hits?
All of your wishes may come true, the rich in America are getting poorer by the minute with the falling dollar. Petro China was the first company to hit a $1 trillion valuation, not a greedy US company. China has announced it is selling dollars for other currencies, even Jay-Z did not use US currency to flash to his video girls, in his latest video he used Euros.
But on the other hand:
Since August of 2003 the economy has created 8.3 million jobs and has had 50 months of uninterrupted growth.
Per capita income has grown about 13% since Bush took office.
Real wages are up 1.2% since Bush took office ( a rate higher than in the 90's).
There was a 7% rise in tax receipts in FY 2007 and a 12% increase in tax receipts in FY 2006.
The deficit is 1.2% of GDP well below the historical average and trending down.
All of this in spite of the real estate melt down and subsequent credit crunch.
Please tell us why we should panic over the falling dollar, while on the other hand we needed to panic over the strength of the dollar when foreign investors where investing too heavily in our national debt and were going to cause our economic doom?
It is hard to keep up with what I should be panicking about, but I am betting you can help. I know I should have taken your advise about the sub-prime mortgage issue, you seem to have your finger on the pulse of what people are going to over-react to.