Populist libertarian Rep. Ron Paul (R-Tex) has accused the US Federal Reserve of the "theft" of ordinary people's money
via the dollar's sharp decline on world currency markets. Whether the free-falling greenback is a result of the Fed's thievery, gross incompetence or both, this is yet another example of the growing jitters amongst Americans at the inability of the supposedly Olympian god-like financial collossi of Washington and Wall Street to stabilize an economy teetering on the precipice of the kind of out-and-out disaster unseen in the western industrialized world for the past 75+ years.
All more evidence that the Bacchinalian orgy of laissez-faire conservative capitalism and e-z credit consumerism is coming to an end and, as can be expected following all such exercises in hedonistic excess, the mess left behind afterwards is going to take a hell of a lot of time and effort to clean up.
Labels: declining US dollar, economic crisis, economic hedonism, Ron Paul, US Federal Reserve