Originally Posted by petegz28
Ok, I will give...
It's the ****ing $ people! And all the tax reform in the world will not do dick for the $.
The Federal Reserve has the most impact on the US$ via interest rates. The lower the rates, the lower the value of the $. The lower the value of the $ the higher the costs of commodities denominated in said $.
So in plain english:
The lower the $ the higher the cost of oil
The lower the $ the higher the cost of copper
Are we getting it now?
The Federal Reserve has had a policy over the last several years of keeping the interest rates at excessive and some economists say artificially low levels.
So if Obama was actually educated on the economics of our market place, when he was asked in the debate why gas was lower and now higher, he would have said "because the $ is lower which drives up the cost of good such as oil, instead of his bullshit answer of "the economy was bad then".
The cost of commodities impacts everyone from rich to poor. What ****ing good does it do to give someone an extra $20 a paycheck in tax cuts if that just goes to that gas tank because gas prices are high?
Oh, okay....I call that debauching the currency instead of saying it like that.
Just one thing though, the debauching of the currency began under Greenspan and continued for 16 years. It was mainly due to cheap imports from China and technology advances which makes certain goods cheaper that inflation didn't rear it's head. But it did by 2007/08.