Some "journalist" over at Politico is pulling crazy theories out of his, well, you know ...
Today, Eamon Javers reports that he's figured out why the dollar is declining. Yes, he's found a culprit - Matt Drudge.
No, really, he did!
Clearly, Matt Drudge has developed a fascination with the declining U.S. dollar.
“He’s fixated on it,” said Tom Rosenstiel, director of the Pew Research Center’s Project for Excellence in Journalism. “There’s no question that Drudge can alter what people are paying attention to.”
Drudge does have the ability to put news items on the radar screen of major media outlets and political figures in Washington. And other people are paying attention to Drudge, too: A source close to the U.S. national security community said that Drudge’s link to a story in the [London] Independent earlier this month instantly grabbed the attention of senior American officials.
What’s more, there’s one economic upside to a soft dollar: increased exports for U.S. manufacturers. Reporter Nelson Schwartz noted in an article in The New York Times on Sunday: “A weak dollar could prove beneficial to the American economy by aiding long-suffering manufacturers, rebuilding a stronger industrial base and lifting exports even if it makes life harder for trading partners around the world, especially in Europe.”
But that Times article, titled “In Dollar’s Fall, Upside for U.S. Exports,” did not receive a link from Drudge.
Other conservatives have been interested in the decline of the dollar as well this month. On Oct. 6, former Alaska Gov. Sarah Palin posted an item on her Facebook page reacting to the reports of an anti-dollar effort in the oil markets.
“Even the possibility of such a talk weakens the dollar and renews fears about its continued viability as an international reserve currency,” Palin wrote. “In fact, today a United Nations official called for a new global reserve currency to replace the dollar and end our ‘privilege’ to run up huge deficits.”
Palin laid the blame for the weak dollar squarely on the Obama administration: “All of this is a result of our out-of-control debt,” she wrote. “This is why we need to rein in spending.”
Um.
This is the stupidity that passes for "news" these days. "Matt Drudge is linking too many stories about the dollar." "He didn't link that story." "It's, it's ... It's all Sarah Palin's fault!"
Are the public schools really that bad? Are people really dumb enough to believe this crap? Are we in perpetual high school?
The Dollar Has Real Problems:
The reason the dollar is in trouble is because the Federal Reserve doubled the money supply by engaging in the act of counterfeiting. Well, that's what we call it when a criminal prints money anyways. But when our Washington Overlords do it, it's called "monetary policy."
- Advance Look At The Last Treasury Monetization
- Niall Ferguson Says U.S. Dollar is Doomed; U.S. Empire is Finished
- Dollar Collapse Plunges S&P 500 Back To 1996
- US Dollar Crashes Through Major Support Level
[...] about Matt Drudge as of October 21, 2009 Matt Drudge Kills U.S. Dollar – the-classic-liberal.com 10/21/2009 Some “journalist” over at Politico is pulling crazy [...]