The View From 1776
Saturday, April 23, 2011
The Price We Must Pay
Democrat-Socialist Party leaders are so firmly convinced of the rectitude of socializing the nation’s economy that they willingly subject us to unprecedented deficit spending, crushing national debt, and rapid devaluation of the dollar. Wiping out the middle class’s savings via inflation is, in the estimation of Obama and Pelosi, a reasonable price to pay for regulatory control of your life.
Read The Silver Bullet?, an editorial in the New York Sun.
It turns out that if we price gasoline in ounces of silver, we discover that it has been falling in value. That is, a gallon of gasoline on the day President Obama was sworn in was worth about a sixth of an ounce of silver. Today, the value of the same gallon of gasoline has fallen to less than a 10th of an ounce of silver.
This is something to remember next time you pull up to the pump and get ready to pay four greenbacks for a gallon, if you can even find gas at the $4 price Mr. Obama quoted in his weekly radio address. It