There’s all kinds of things going on today, as usual.
From zero hedge:
This is what the US economy has been reduced to: McDonalds reports that as part of its employment event to hire 50,000 minimum wage, part-time (mostly) workers, subsequently raised to 62,000 it received a whopping 1 million applications…Alas, the US economy is now so pathetic that the bulk of the population will settle for anything. Literally anything. And the saddest part: over 938,000 applicants were turned away… And yes, aside from reality, things in America are really recovering quite nicely.
A chart from Agora Financial, explaining why everything is up, except the dollar. Inverse correlation much?
As the dollar becomes worth less, to beat a dead horse, it takes more of those dollars to buy things. More dollars chase the same amount of goods, all things being equal. You see, even the dollar adheres to the economic principle of supply/demand.
It seems many people don’t really understand the money they use everyday. They believe a few trillion pieces of paper with dead presidents on them are somehow special, above the laws of economic principle. Perhaps it is the result of the monopoly of the dollar system within the United States. If people were legally allowed to use other currencies (or better yet, real money, like gold and silver) to purchase things, perhaps dollar’s days would be numbered. Unfortunately, due to federal laws, people are not allowed to conduct business in the currency of their choice, such is life in the land of the free.
Moving on. It’s constantly said that if the stock market is up then things must be good. That statement doesn’t seem to hold any water anymore, if it ever did. As the destruction of the dollar continues, the stock market has reached new heights…in the dollar. Against other currencies, the S&P 500 is down! And in gold and silver, it is way down!
Yes, pretty much every gain, or rise in the price of a good, is attributable to a decline in the purchasing power of the dollar. Even oil. Even the price of gas. Peter Schiff, in his video blog, explained how the price of gas is at a record low. Not when it is priced in dollars of course, but when priced in something like silver. A $4 gallon of gasoline costs about $.08 when priced in silver, a record low! So when the president (and all presidents do this) says he is starting a task force to determine why oil prices are rising (he blamed evil speculators, oooooh scary), he should send them down the road to the Eccles Building, headquarters of the Printing Press Express, I mean the Federal Reserve.