Over time, there's a very close correlation between what happens to the dollar and what happens to the price of oil. When the dollar gets week, the price of oil, which, as you know, and other commodities are denominated in dollars, they go up. We saw it in the '70s, when the dollar was savagely weakened.
Obviously, things can get derailed, particularly if, which looks more and more likely, you get a blow-up between Israel and Iran. I think that's a very real probability now. But barring some real blow-up, the U.S. economy will grow, after a slow first quarter, about 3, 3.5 percent this year, far better than it was in 2011.
People are not going to reelect Barack Obama. But will the new president govern as a real conservative? We're going to have to apply the heat to make sure.
There's plenty of juice to keep this economy going.
And it would be fair. Everyone will pay the same tax and it will eliminate tax cheaters and corporate shenanigans.
There's no human censorship at kiosks.
Today, the US spends less on defense as a percentage of our economy than we did at any time since he Japanese attack on Pearl Harbor. For the world's only superpower, that is an invitation to very serious trouble.
Mr. Greenspan did a very good job in the early 1990's. But recently he's fallen prey to this crazy theory that prosperity causes inflation. So they're trying to slow the economy down by raising interest rates. It's like a doctor saying you're in great health, so we have to make you sick a little bit. It's a bizarre theory. It's going to hurt our economy.
It can't help but knock things down.
