The under reported story of the decade is the crumbling value of the U.S. dollar. Between the poor monetary policies of the last 3 Presidents, Congress printing money like drunken sailors, Congress and the Executive spending like drunken sailors, too much U.S. currency held by foreign concerns, and many other contributors the rising cost of oil and food and the falling stock market sits pretty comfortably at the feet of the U.S. dollar devaluation that has occurred over the past 5-7 years.
All is not doom and gloom, though you may think so when you buy cereal or tank up your car. The value of the dollar is making U.S. products more competitive and bringing manufacturing back to the U.S.. Not that the workers will be able to afford the lifestyle they once could.
Only time will tell if we find the right balance. But if we don’t it probably won’t matter much, we’ll be too busy finding 3rd jobs to pay the electric bill and fill up the car.