In a word, greed, is the problem.

Comment by toasterhead

The best part is that water and sunlight are used to produce the hydrogen, and the only byproduct is oxygen. When the hydogen is burned, the only byproduct is water!

1. We have seen a creeping recession on a class by class basis. Out sourcing of US jobs and the decline of our manufacturing base claimed the standard of living for displaced workers.

2. Our failure to invest in new technologies and products for manufacture in the US has decreased our competitiveness with other countries. Traditionally, a nation expects to see mature products and technologies migrate to other manufacturers. However, the nation maintains its vitality through creating new products and markets that justify the higher wages demanded in successful, mature economies.

3. Multinational companies will seek profit only without regard to the impact upon its nation of origin. This will inevitably result in a conflict of the company’s short sighted and short term interest versus the long term well being of the nation.

4. These factors have contributed to increased income disparity. Broad term measures of economic growth no longer equate to the overall economy. In particular, GDP can grow due to paper profits (speculation) and reduced costs while the long term strength of the economy is sapped.

Comment by shoeless — January 29, 2008 @ 3:39 pm

Ok now that’s seriously cool. I’ve been down on hydrogen in the past because we had to use fossil fuels to produce it, but if this technology is really viable I will be much more of a supporter. Thank you!

Comment by toasterhead

We’ll sell hydrogen powered cars, and the hydrogen to power them.

Sunlight to Fuel Hydrogen Future

Comment by shoeless — January 29, 2008 @ 2:38 pm

Possible. Maybe not the cars so much, but by electricity generated from alternative energy.

And a caveat here – as MapleStreet points out we’re technically already in a recession, as two quarters of negative growth is the definition of such.

How bad it will actually be is another question. Dollar’s weak, economy slow. But for now I’m going to assume that (looking back at past administrations’ effects) once the Democrats win the White House back we’ll see an upturn.

Unless of course Bush has done a deal with the Saudis to bump oil prices up, that’d hurt the economy. If it happens at all, look for a spike in oil prices after mid-year to boost Republican chances in the elections….

Problem solved.

Although the Dow is certainly NOT the true measure of the economy, the insinuation seems to be there – looks like we’re in a recession which will be officially declared within the next 2 months.

Comment by toasterhead

How’s about we back the dollar with solar collectors, windmills, and hydrogen powered cars.

Comment by Xisithrus — January 29, 2008 @ 2:13 pm

Oil is finite. Gold is finite. Agriculture will be around for as long as humans are on this planet. Perhaps backing the dollar with something dependant on the environment will make us more keen on preserving the environment.

Wanna bet!

Bush doesn’t believe it. He says the economy is as sound as a dollar.

Hey!?! Wait a minute.

hurrhmm..

Comment by toasterhead

Can we make it decaf? I don’t want to be up all night worrying about my investiments.

*eyeroll*

Imagine:

-Hey, spare me some cash.

-Ok, but you have to lick it from my pockets.

Comment by shoeless — January 29, 2008 @ 1:55 pm

This discussion does have me wondering about the feasibility of backing a currency wiith an agricultural commodity such as cocoa or coffee or something. I mean, the dollar right now is backed by petroleum. How hard would it be to move it to hard winter wheat? Perhaps a virtual basket of commodities, so that the currency is not dependent solely on one product.

This could work in theory, but I don’t know the specifics. Someone get Amartya Sen on the line, stat!

Gold is at $900 PLUS

Oil at $90 =/- a few

Gas at $3/gal =/- pennies

Silver at $15 plus

But most importantly the people of this nation are stupid.

You have allowed these mealy mouth good old boys to railroad you. They promised you hope and gave you nothing. You will never be where they are no matter what you do and yet you keep thinking this is some kind of “democratic” process.

Get a clue. As much as I too will vote today, and for Obama, it will mean nothing. Remember, he wants to EXPAND the military by 100K troops.

When AMericans quit romanticing the warriors and their wars then maybe we’ll have some money to deal with the broken parts of government. Until then just expect more of the same. They are fighting for your freedom……….uh huh.