The reports of the weakening dollar keep coming in:
Antique store owners in lower Manhattan, ticket vendors atThe reason people don't want dollars is simple, people don't want what the dollar is offering. The dollar, at one time, used to represent stability, value, and security. Now, based on the unprecedented liquidity injections, interest rate decreases and other market manipulations by Bernanke and company, one can conclude that a full fledged panic is just around the corner because that stability, value, and security is being shredded. 's and Brazilian business executives heading to all have one thing in common these days: They don't want U.S. dollars.
What offends me the most is that peoples life savings are being stolen from them by inflation. The buying power that someone on a fixed income (like the elderly) has is being taken from them through no fault of their own. It was bad enough when 3 percent inflation was deemed "acceptable" (sorry Milton Friedman, you were wrong on this) but now that the inflation rate is pointing towards double digits. Where is the outcry?
Shouldn't I see headlines like: "US Economy Killed by Terrorists and Excessive Government Spending and Inflation, but mostly by Excessive Government Spending and Inflation" over at Ace?
or even a "Dude" by Allahpundit over at Hotair?
What does the White House have to say about the weakening dollar? Oh yeah:
We should be at LEAST as offended about the Federal Reserve as we are about illegals coming into this country.