You don't have to like Pat Buchanan. A lot of people don't. But in my years of watching, he hasn't generally been too far off on his observations, though they sometimes make us uncomfortable. That doesn't make him wrong, it just means he sometimes says things that make us uncomfortable.
He's done so, once again. I draw your attention to an article in Creator's Syndicate, dated yesterday and posted at Creator's.com under Sinking Currency, Sinking Country
It is not comforting. He starts out in a manner that is most uncomfortable to our 'Globalization is Good' friends:
The euro, worth 83 cents in the early George W. Bush years, is at $1.45.
The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century.
Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800.
Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years?
Nope. The dollar has plummeted in value, more so in Bush's term than during any comparable period of U.S. history. Indeed, Bush is presiding over a worldwide abandonment of the American dollar.
I think that's just about the Fair Use limit, hope so, anyway. Go read the rest of it. You won't like it, I didn't. But that doesn't make it wrong.