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Paying the price of poor leadership
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| An Editorial |
October 13, 2009 |
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The price of gold is setting records and the dollar is plunging as the rest of the economic world comes to grips with the devastation Washington is perpetrating on the great American economy.
There is a strong move to replace the American dollar as the world currency for oil and other commodities.
This plot had its genesis when Pres. Clinton decreed that everyone, regardless of ability to afford, must be able to own a house. Greed, speculation, and poor oversight took over and the great mortgage meltdown brought some of the world's leading financial institutions to their knees.
The Bush Administration's irresponsible spending policies added further fuel to the economic fire.
Now, under the leadership of Nancy Pelosi, Charlie Rangel, Christopher Dodd, and Barney Frank, the ship of state is headed for even more dangerous waters, and foreign governments and investors want to abandon ship.
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©The Democrat 2010
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