Since Bush was inaugurated, the US stock market has not kept up with inflation, while the value of the dollar has plunged. As the 2008 campaign begins, those who claim all is well and those who call for "change" have not confronted the real change that has been happening.
A fraction of a typical American stock's market value is its book value, but most of the market value represents the price investors are willing to pay for the company's future growth. So the world's valuation of America's future has not kept pace with inflation--with valuation in a sharply lower American dollar.
None of the presidential candidates is sounding the alarm about this. In particular, Obama spouts charismatic babble about change, new kind of politics, experience is unnecessary, blah blah blah. Actually, the foregoing sentence is not completely fair because, whether you agree or not, Obama's site has some thoughtful policy proposals, but the sentence is not completely unfair either.
While I can't picture Obama going eyeball-to-eyeball with Putin, Barack's supporters worry me at least as much as the candidate himself. Having roused the tiger's passion, after riding it to the Oval Office President Obama may find it difficult to persuade it to allow him to govern rationally.
Afterthought. Can I picture Hillary going eyeball-to-eyeball with Putin? Maybe. Depends on which Hillary shows up.
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