I think you'll find that with all this deficit spending, we've already baked into the cards massive inflation in the future. Already, you can see the dollar dropping and commodity prices, like oil, increasing as a result. I think oil prices will break new highs as the economy kicks into recovery mode.
I certainly agree with that.
during the Clinton years, after Gulf War I, when oil prices were very low, it was an economic golden age for us and a relatively peaceful time when NATO expanded and the Middle East was relatively quite. Bin Ladin was rearing his ugly head, but he was still small potatoes. Most of South America didn't have people like Lula and Chavez in power yet.
So yes, Democracy made great strides during the 90s when oil was prices were low.
Let me point out that was true during the Reagan Bush years too. Low oil prices, the USSR falling apart, NATO expanding while the Warsaw Pact dissolved.
Re Chavez he came to power in 1998. He had mounted a coup attempt in 1992 that failed. |
