There is another column from Tibor Machan over at the Atlasphere; this one takes exception to the nominations for the ten best movies concerning money from Forbes.com. His conclusion that money was at best misrepresented in the films left me thinking that Americans (and people in general, including Hollywood directors) need to first understand money before we can represent it properly in film.
I filed the link away on the off-chance I had time to write a blog entry on the subject. Then this column (also at the Atlasphere) showed up in my inbox. Larry Elder is another of the column writers that I usually enjoy reading, but not this time. Here he’s off on a rampage trying to discredit the viewpoint that the economy is in trouble. A misguided effort at best.
Given that the US is an economic powerhouse; given the economy (somehow) continues to grow. Gasoline being is on the rise is a true observation; and it will probably hit record highs before the summer even gets into full swing. Businesses have been able to absorb the higher transportation costs so far, but I doubt they’ll be able to do so through a second summer.
The problem is that a certain amount of growth is required to keep the US economy afloat. We have spent ourselves into a very large hole in the ground. It would be all too easy to get buried if business doesn’t continue in a normal growth curve. What backs the dollar is the full faith and credit of the US which means it is entirely based on the American people’s willingness to absorb the debt and to go into debt themselves while doing it. What happens when the debt becomes too large to bear? Does anyone out there think that this can’t happen?
That Mr. Elder doesn’t point this out while he’s busy defending the economy that we are currently in (which is lackluster compared to growth in previous generations) just goes to show what I mean when I say we have to first understand money. Without a strong dollar, a ‘growing’ economy could well be a meaningless side effect of the plentiful, worthless paper money that keeps floating around.
I finally got around to writing that article: