Last night I woke up from a dream where I was paying $10 a gallon for gasoline. I remember vividly watching the total on the gas pump reach $180 before it clicked off indicating that my gas tank was now full. I walked inside the gas station and added a pack of gum to my bill for $9 and also picked up a 20 oz. bottle of water for an additional $7. My grand total for the gas stop $196. Without a wince at the price I pulled out of my wallet a single $500 green American bill with Ronald Reagans face on the front. As I collected my change my eyes focused on the calender on the wall behind the cashier. The date was August 5th 2010.
I’m not worried about Iraq, I’m not worried about Obama becoming president, I’m worried about the dollar. What’s America going to look like when theres an additional $700 billion pumped into our financial system?
Inflation is the silent killer of a currency’s value and history shows that the common people are unaware of inflations dangers until it is to late.
I wonder if the American people will turn on the white house once they realize that the largest bailout of all time is not large enough and that the only thing it accomplished was filling our pockets and bank accounts with worthless dollars.
“It will cost more to solve this problem today than it did two weeks ago,” said Buffett, referring to when Treasury Secretary Henry Paulson’s first proposed that Congress help rescue Wall Street after Lehman Brothers went bankrupt, Merrill Lynch was sold to Bank of America, and American International Group had to be rescued.
“If we don’t get it solved next week,” added Buffett, “I may go back to delivering papers.”
— Justin of Vizionkc