Baseball91's Weblog

October 18, 2010

America’s Dollar, With Post Traumatic Stress Syndrome

Filed under: currency,euro,Hyman Minsky — baseball91 @ 5:19 PM
Tags: , ,


There was silence all around us, about the currency we used. It was the silence over who we think who we are, as a currency appreciated. The silence came with a belief in false strength, as if it was something that I had done.

Travel internationally and see it in a people. While a weaker currency was inflationary, no one who used the currency within the borders seemed to appreciate what was happening, in the view of the rest of the world over value. Or over judging values.

When currency policy was used to finance war, so that not many citizens thought about the war. There was a silence all around us. About war. Until tax cuts affected road maintenance. Maybe not today. Maybe not tomorrow. But someday soon. In the United States, the silence all around us was about war. Until tax increases came, or otherwise the currency would become worthless. No matter how many dollars we saved for retirement.

There was a silence all around us. In political campaigns. About war. And about the cost of war. When currency policy was used to finance war. The past unfunded costs, and the ongoing present costs. Which were affecting currency. Every day. When state government had no control over the erosion of currency. While the electorate seemed to only build new stadiums, drink beer and watch NFL football. An electorate with a loss of consciousness, if not just the beginning stages of dementia in a once booming generation.

The power to regulate currency was left to the market, as the Fed and the Treasury secretary had spent their tools to control the cost of money. Only after Congress had already approved of war. The elected representatives. With interest rates, banks were allowed to have some control of cost of money. In a world market fighting deflation.

The silence all around us was from the seemingly powerless, in whatever currency was used. Except come election day. An electorate, as one clinical symptom of depression, continued to be unable to focus. Perhaps as a result of battle fatigue, or one stage of a national Post Traumatic Stress Syndrome, the missing focus was on the cost of war. It was not just soldiers that would have to live the remainder of their lives with this Post Traumatic Stress Syndrome.

In a once booming American generation unable to focus beyond a counted cost of 50,000 American lives, with no attention to the 2 million Asians who lost their lives. It was not just surviving soldiers that had had to live the remainder of their lives with this Post Traumatic Stress Syndrome, and the loss of focus. In a once booming American nation once with a currency with the power to regulate governments in Southeast Asia, or to go to war in Iraq. A nation that had not learned the affects of war on currency that took twenty years to overcome, beyond the loss of life.

The United States was a nation, after both Democrat and Republican administrations, with a sub-prime belief in false strength of currency that was used to somehow bring Bin Laden to justice, with wars in Iraq and Afghanistan. My own considerable fear, with this Post Traumatic Stress Syndrome and the loss of focus after September 2001, was about a weaker currency which was hyper inflationary, in the soon to come future that would affect a nation for twenty more years. Or the reverse policy would be uncontrolled deflation, like the policy followed in Japan, where elected political leaders could only watch the affect of monetary policy adrift. Or the decade after the Great War in Europe that saw ongoing deflation, with a contagion that spread to these shores.

The drones of both Democrat and Republican candidates with post traumatic stress, and not really caring any more about the cost of these foreign wars –the wars lost sight of under the cover of TARP rescue of banks that no one had really protested against. It’s the war, stupid. It’s the stupid cost of war.

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1 Comment »

  1. The buzzcuts which have never come to the depilatory euro except in Greece, as somehow the world keeps ignoring the deficits as Central Bankers just kept lowering interest rates. And if money was free, the debts of government could just keep piling up. Free like the air that we all breath.

    Only in 2016, very few currencies will look strong. In Monetary War, the U S dollar has buried other currencies in developing nations. Now the U S dollar has prevailed against the pound sterling, down 18 percent since the Brexit 2016 vote, as well as measured against the euro. And Asians who pour their assets into the Japanese currency punish the Japanese by making the currency too strong for most of those living in Japan.

    Comment by baseball91 — April 29, 2015 @ 6:21 PM | Reply


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