Dying Dollars and Cool T-Shirts
The other day, I read the latest figures on the dollar's performance: Over the last three years, it has fallen some 30-odd percent against the euro and 20-something percent against the yen.
While a lot of people are pulling for a weaker dollar, the world needs to get serious about the current global financial system before we all regret it. To be fair, the blame for the dollar's current state is largely--although not entirely--domestic. Our deficit is huge and reckless and expected to get larger. With that, the dollar will only weaken and those willing to finance our debt will only dwindle (or demand higher returns). Our current fiscal policies suck and absolutely harm the dollar's reserve-currency status. We need to stop blaming Europe and Japan's slow growth and starting listening to Greenspan and begin a change in US policy toward a stronger dollar, beginning with a reduction in the deficit.
Dr. Leclair discovered a superconducting ferromagnet
My friend Patrick often finds it hard, while we are out partying, to convince the people we meet that he is, in fact, a Ph.D. physicist and discoverer of a thing that is both a superconductor and a ferromagnet and not a member of a punk-rock splinter cell of the Hell's Angels. The more people who buy this T-shirt, the better informed everyone shall be. And the less malnurished my children will be.
I am having trouble sleeping.