As I am in a shitty mood, it is time for an economics post.
This is well-written paper about world economics. American politicians, and the electorate, are abusing the greatness that has been handed to them by previous generations. They are able to do this because people believe that ten dollars today will be worth ten dollars in six months, or at worst eight or nine dollars in six months. So Tim keeps printin' it and Barry keeps writin' checks.
This makes other nations angry with us, because we get to print money and create value without doing work as things currently stand, and they have to watch their dollar reserves shrink in value. So it is natural that other world political systems will move towards barter and alternative currencies. This is why Putin was pushing for an energy-based currency at Davos, which makes sense, as the paper explains.
It is clear to me that Putin sees President Obama and Geithner as children, or perhaps puppets of the New World Order types. Putin still hates the West for what we did to him in Afghanistan, and will take down our dollar without mercy, if given a chance. And I think he’ll get it.
So I am personally ready to offer up all of America’s lawyers and bankers as a tribute to Vladmir Putin.