The Suez Crisis was the end of Britain’s pretentions to be an independent power.
Our Suez Crisis is slower, and entirely self-inflicted.
Don’t celebrate Dow 10,000. It is really only Dow 3,333.
The number 10,000, of course, refers to 10,000 U.S. Dollars, a currency whose entire value depends on the credibility of Treasury Secretaries. In the last few years are Treasury Secretaries have been men like Henry Paulson (who made millions from his friends on Wall Street) on Tim Geithner (whose unaccountable aides, or “czars,” made millions on Wall Street).
Another way of thinking about the past ten years, not as a recovery but as a collapse, is to count in terms of ounces of gold, instead of U.S. dollars. Unlike U.S. Dollars. the value of an ounce can be silently inflated by men like Paulson and Geithner, who are more concerned with Wall Street profits than American power.
In 1999, Dow $10,000 = Dow 30 ounces of gold.
In 2009, Dow $10,000 = Dow 10 ounces of gold.
In other words, in constant points, our “Dow 10,000” is just “Dow 3,333.”
No foreign country did this to us.
Only men like Henry Paulson, and Tim Geithner.
And their friends on Wall Street.
Update: Thanks to Robert Patterson for the link!