Will the Euro become the new reserve currency?

By -
Image from Bank of Finland

Jerome a Paris on DailyKos looks forward to it. Given Republican reckless mismanagement of our nation's finances, I wouldn't be surprised if the Euro becomes the new "safe" currency. I hate to see America weakened, but I can't blame people for betting against the dollar right now.

Of course, a Democratic administration might start to clean things up, just as Bill Clinton helped do in the 1990's (with a huge assist from a booming economy). But the destructive Republican ideology will still be there, ready to waste it all on wars, giveaways to the rich, and corporate handouts. Looking at America from the outside, I might be thinking, "Do I really want to bet on a country that re-elected Bush in 2004? Sure, they might get their act together, but why risk it?"

We need more than just a Democratic victory in 2008. We need a re-alignment of our politics. I don't see how else we can regain our moral and financial standing in the world.

Comments

ogre said…
Will it? I think it's only a question of closing the barn door.

The best that's likely to happen for the dollar now is that a sane president will salvage things enough that the dollar and euro will serve jointly. But it's entirely possible that the Dollar Era is nearly at an end.
5:09 AM, November 28, 2007
Post a Comment

Popular posts from this blog

Snarking The Odyssey (with AD&D)

By -
Image
WARNING: Those of you who are accustomed to pithy political remarks here on Internal Monologue should brace yourselves for a major dose of gaming geekitude. Here's a link to one "Jamie R." who does a very snarky close reading of Homer's The Odyssey (HT: Mad Latinist via email). I've only read book 1, but it's pretty funny so far. An excerpt: Tell me, O muse, of that ingenious hero who travelled far and wide after he had sacked the famous town of Troy. Many cities did he visit, and many were the nations with whose manners and customs he was acquainted; moreover he suffered much by sea while trying to save his own life and bring his men safely home; but do what he might he could not save his men… Sooooo, he’s in charge, and everybody dies. Tell me, O muse, of that ingenious hero and his colossal failure. What? … for they perished through their own sheer folly in eating the cattle of the Sun-god Hyperion; so the god prevented them from ever rea
Read more

Where is 56th and Wabasha? "Meet Me in the Morning" Dylan Mystery Solved

By -
Image
Short version The lyric is not "Fifty-sixth and Wabasha", it is actually "Fifty-six and Wabasha", referring to the intersection of old Minnesota Highway 56 and Wabasha Street in Saint Paul, Minnesota. If you listen, you can hear Dylan sing "fifty-six", rather than "fifty-sixth", particularly on the take that was released as the B-side to "Duquesne Whistle". Minnesota Highway 56 no longer intersects Wabasha Street, but from 1963 to 1974 it did intersect Wabasha Street, at what is now (in Feb. 2021) the intersection of George Street and Cesar Chavez Street in St. Paul, or possibly South Wabasha & Cesar Chavez.  Long Version "Meet Me in the Morning" is the first song on side two of Bob Dylan's celebrated 1975 album  Blood on the Tracks. In the opening lines of the song, according to the lyrics on Bob Dylan's official site (https://www.bobdylan.com/songs/meet-me-morning/), the narrator invites the listener to a rendez
Read more

Victim or perpetrator? How about both!

By -
Remember in the movie Adaptation , the main character's brother has this idea for a screenplay called The Three? It's about a detective trying to track down a serial killer before he kills his next victim. Pretty standard, right? The twist is that the detective, serial killer, and victim, are all actually the same person . Whoa, dude. Fight Club 's got nothin' on that one. Well, this isn't quite that weird. But apparently, Utah legal authorities are somewhat perplexed by a situation in which a 13-year-old girl and her 12-year-old boyfriend are both simultaneously the perpetrators and victims of the same crime: having sex with each other (HT: Feministing ): Utah Supreme Court justices acknowledged Tuesday that they were struggling to wrap their minds around the concept that a 13-year-old Ogden girl could be both an offender and a victim for the same act - in this case, having consensual sex with her 12-year-old boyfriend. The girl was put in this odd position be
Read more