Polishing a Turd...

There was an article this morning in The Times about businesses in New York City accepting Euros instead of U.S. Dollars. Due to the increasingly weak dollar (which is practically worthless) businesses are struggling. There are businesses here in Texas, some even here in Dallas, that accept Mexican Pesos as well as places along the U.S./Canadian border that accept Canadian Dollars. You know, I am all for this!! I have always believed that a universal monetary system would be much better than the one we have now. Of course, there are people who believe that I am crazy but so be it. I have about £60 and about €25 ($117.00 and $36 respectively) tucked away. There is no point in exchanging them since they have lost more value now from when I bought them.

Of course the U.S. is headed into a recession. Our “Brilliant” President has decided to give Americans more money in early summer. They are trying to prevent a recession. More money given out, the FED keeps lowering the prime interest rates, etc. This is ok to a certain point. I believe some of this is going to far. Recessions are historically cyclical. A recession will happen regardless of the things done to prevent it. They keep skirting the issue here. They are calling this period of time “a slow down in our economy.” Um, right…this is called a recession. It is like polishing a turd. No matter how much you polish the turd, it is still a stinky piece of poo. No matter how much you cover up a recession…it is still a recession. If you look back through history you will find that the economy will enter a mild recession during a presidential election and other times of uncertainty. But I think that this is going to be bigger and last longer than usual. God forbid…don’t use the “R” word.