A New York Times article this morning discusses Air Force research into alternative fuels to power aircraft. The focus is initially on a natural gas blend with a long term goal of using coal-to-liquid fuel. Sounds like the sort of thing that could give a significant boost to the coal-to-liquid fuel development. (Military Plans Tests in Search for an Alternative to Oil-Based Fuel)
...at some point in America’s
future, a rather drastic rebalancing of wage rates compared to
primarily Asian competitors will be required... ...the way a reserve currency nation gets out from under the burden of excessive liabilities is to inflate, devalue, and tax. ...although it must be
recognized that I am not speaking to “overnight” developments but
instead to changes that should occur in future years ...Higher inflation, higher
personal and corporate taxes, and a lower dollar point U.S. and global
investors away from U.S. assets and toward more competitive economies
less burdened by health and pension liabilities – those personified by
higher savings rates and investment as a percentage of GDP.
The fundamentals are off. Income is flat. Costs for housing, health
insurance, daycare and college are steadily growing. Families are
quickly running out of maneuvering room. And, once again, there is no
exit strategy is in sight.
Well, isn't the the exit strategy outlined above? Inflate, devalue and tax. "New Dollar" anyone?