Maybe Obama's right

[Finnegans Wake]

Spend all those worthless dollars now.

Because if the Arabs disconnect the dollar as the currency for oil, seems like we're in for some shit.

[jonzr]

And spend them on alternative energy research.  If ever there was a reason to do so, is it not now?

[Finnegans Wake]

Jonzr, you're right, of course: the sooner we can be self-reliant and not at the whim of the emergent powers mentioned in that article, the better.  But in the meantime, what happens to the strength of the USD if oil is suddenly sold in Euros and Yen?  Man, we thought the market crash fucked us up. 

Start filling your pillows with Euros?

[LambertsFrontTeeth]

I don't think that will happen -- at least not overnight. There are too many world powers (other than us) that would be damaged by this.

First, the Saudis themselves. They certainly don't want to be sitting on their vast dollar reserves as the dollar begins
to crater.  So, even if they wish to eventually move away from the greenback, they need to do it slowly over a period of many years.

Also, the Chinese might be very irritated with that -- again, in the short term.  They peg their currency to ours, and have tons of Benjamins in vaults that they want to retain some value.

[jonzr]

Sounds like everyone has already made their provisions.  The continued rise of the EU and Chinese capitalism, one has to wonder what kind of obstacles those are to our expectations for America's place in the world.  We've obviously been slipping over the last decade, how much does that continue?

[Preacherman0]

The idealistic stereotype of the American "Self-Made Man" and rugged individualism is about to wreck our economy. 

At some point, self-interest has to give way to the greater good.  I don't know if most in our country are prepared to realize that.  And then you have to answer the question:  What exactly IS the greater good?

[jonzr]

The idealistic stereotype of the American "Self-Made Man" and rugged individualism is about to wreck our economy. 

At some point, self-interest has to give way to the greater good.  I don't know if most in our country are prepared to realize that. 

Sadly, that sentiment is met today with mindless cries of "communist!" or "socialist!"

[steelerfaninCO]

At some point, self-interest has to give way to the greater good. 

Communist!! Socialist!!

[Preacherman0]

Communist!! Socialist!!

And I'm proud of it, too!  YEEEE-HAAAW!!!

Seriously, check out the stories of Jesus and the disciples, particularly Matthew 10.  Read Acts 2:42-47.  The earliest followers of Christ were...well...COMMUNE-ists.