Flap's Blog – FullosseousFlap's Dental Blog

The dollar kept falling Friday, notching fresh multimonth lows against the euro, pound and yen as a warning that Britain’s debt level may result in its credit rating being cut ricocheted into worries about the massive U.S. deficit.

The 16-nation euro rose to $1.4015 in morning trading from $1.3889 in New York late Thursday—its first time above $1.40 since Jan. 2.

The British pound rose to $1.5916 from $1.5890, peaking at $1.5945 earlier in the session, its highest point since Nov. 6.

Meanwhile, the dollar edged up to 94.51 Japanese yen from 94.23 yen—after earlier falling to 93.82, its lowest point since Feb. 23.

“The problem for the U.S. is particularly acute because of its reserve status,” said UBS analyst Brian Kim in an e-mail to investors Friday. Major holders of U.S. debt, such as Middle Eastern sovereign funds and the Chinese government, have not been shy about calling the U.S. out for what it sees as policies that will trigger inflation, shrinking the value of their Treasury holdings.

Well, no shit, Sherlock.

With the massive Obama government spending and debt there will be massive inflation and stagnant economic growth – just like the Jimmy Carter STAGFLATION in the 1970′s.

The solution then, as it is now, was the election of a conservative President (President Ronald Reagan), limited government, reduced federal spending and tax cuts.

Meghan McCain gets a platform on The Daily Beast and on TV because of who she is, and because she’s a useful idiot for the media left. (“Look, even John McCain’s daughter is saying how screwed-up the GOP is!”) I say this even though it’s likely that Meghan McCain and I agree on some things. She ought to know enough to realize that she’s not getting on TV because people think she’s genuinely got anything interesting or important to say.

Can’t Mother McCain get her a job selling beer or something?

Chipping a tooth right before the Memorial Day weekend means more than likely you will have to wait until next Tuesday to get it repaired.

However, be glad America has private dentistry and although your regular denist may be off golfing, there may be an enterprising dentist who is open for business – even on the holiday weekend.

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As for California specifically, again just 24% believe the federal government should guarantee the state’s loans. Sixty-six percent (66%) of voters nationwide oppose federal guarantees. California Governor Arnold Schwarzenegger has said the state may request such guarantees.

Even given the most extreme example of bankruptcy, voters oppose federal subsidies to keep the state government going.

Forty-eight percent (48%) say it would be better for the economy to let California go bankrupt rather than provide federal bailouts. Just 38% said it would be better to provide federal subsidies so the state can continue to pay its bills and provide services.

California’s revenues have decreased to 1999 levels. Why not cut spending to match the revenue?

Too simple, huh?

California should cut government spending supported by the politically powerful public employee and teacher’s unions and get real about balancing its budget.

Or, RINO California Governor Arnold Schwarzenegger and the Democrat dominated California Legislature can explain to California voters why they have bankrupted the state.