Economy

The other day I wrote about Thomas Friedman’s confusion over a quote in Bali:

“Anyone who has been listening to the news on climate change knows that there has been one message from this administration — that any serious action on climate change threatens the U.S. economy and our way of life,” Ms. Mehra said to me later.

I noted that of course changes in energy consumption here would threaten the US economy and by extension the entire world’s economy because anything that happens here threatens the world’s economy.
The article linked to notes that the home mortgage “crisis” has helped with the fallen dollar and hence the world’s economy.

The dollar has fallen because of a combination of fears over the U.S. economy, including the subprime mortgage crisis that may worsen.

Imagine for a second if we all halved out energy consumption. How would the world sustain that? They can’t even handle rumors of a possible recession even in the midst of consumer increase in spending here.

The sharp decline of the U.S. dollar since 2000 is affecting a broad swath of the world’s population, with its drop on global markets being blamed at least in part for misfortunes as diverse as labor strikes in the Middle East, lost jobs in Europe and the end of an era of globe-trotting rich Americans.

In the meantime Captain Ed notes that the falling dollar has caused some illegal immigrants here to pack up and go home.

Remember the concern over anchor babies, those children born in the US who have American citizenship despite the illegal status of their parents? It turns out that no one wants to split families. The Mexican government reports a “spike” in requests for Mexican citizenship for children born in the US, so that they can attend Mexican schools instead.

Which just cracks me up. People (other people) can’t understand why people like me get worked up about illegal immigration. Illegal immigration in the numbers we have affect us. In positive and in negative ways. Yes, cheap food, cheap labor on the positive side and yes, cheap food and cheap labor on the negative side.

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