A better question might be, under this President, what will the United States come to be known as and what will our personal finances look like by the time he is out of office?
Does the Obama administration, when looking for an answer to a problem or crisis, find that the most tenable solution is to form a commission or panel to probe for some possible cause? The answer to that is a resounding yes, and while on paper this may sound like action, in reality it is little more than seeking to locate a scapegoat while delaying the need for any real or substantive action.
Commodity prices for example
So why are commodity prices on a straight-line to the north while the value of the dollar is on a straight-line south. So far south that it is threatening to take out the lows made during the height of the financial crisis.
Could those two divergent occurrences somehow be linked to dysfunctional government, large and growing ever larger budget deficits, the mammoth need for foreign subsidy of this deficit, other governments raising interest rates to stave off inflation, a U.S. disregard about inflation, potential for a downgrade of U.S. sovereign debt, the potential that the debt ceiling might not be raised, the potential for a third round of quantitative easing? The answer is yes and from this list you get an idea of the true scope of the problem.
If nothing is done to stem the decline of the dollar, the previous dollar low may simply be just one more stop in our currency's decimation while some other currency positions itself to take over as the worlds reserve currency.
It is a huge and foreboding problem with some questionable minds in government attempting to fashion a solution.
Read a further analysis at CNBC here.
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