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Latest Indication of US Economic Troubles: Hip-Hopper Flashes Euro Notes

Pat Buchanan's op-ed "Sinking Currency, Sinking Country" is supposed to alarm Americans:

The euro, worth 83 cents in the early George W. Bush years, is at $1.45. The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century. Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800.

These numbers, however, are not graphic enough. What is really alarming is that "hip-hop maven Jay-Z in his latest video shows off his wealth by flashing stacks of 500-euro bills, " writes the Wall Street Journal's Economics Blogger and quotes a Minnesota newspaper that calls Jay-Z the "New Alan Greenspan" 

"It's sad that rap stars can no longer show their style with a good old $500 bills (featuring President McKinley) and now need to flash 500 euros (featuring some sort of suspension bridge). I don't need the chairman of the Federal Reserve to tell me about the state of our economy. I just need Jay-Z, the new Alan Greenspan.

Endnote: Did you know that the evil European Central Bank prints 500 Euro notes in order to appeal to drug smugglers? The Corner on National Review Online

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ian in hamburg on :

Fact check: I was 16 years old the last time the Canadian dollar was worth more than the American, and I'm only 47. It hasn't been a whole half-century, only 31 years. As for that drug-smuggling comment at the end, I notice the blogger you link to quotes "a reader" in publishing that BS. What about the Bundesbank? They also had a high-denomination note in circulation - 1000 DM, as did Canada, C$1000. Canada dropped it after pressure from the usual suspects to the south.

Joerg - Atlantic Review on :

Thanks for the fact-check. Yep, sometimes it is handy to hide behind "a reader." It's like asking questions rather than making statements. Example: "Is Bill Clinton xyz?" Of course, I did not say that he is xyz. I am just asking. Funny Daily Show clip on this matter.

Pat Patterson on :

Joerg-Which leg gets pulled the most? The right or the left? Referring to Tony Montana should have been somewhat suspicious.

$p3cT@T0R on :

Its funny you mention the rapper Jay-Z flashing stacks of $500 euros. Just the other day I had to explain to my friends why he was flashing the stacks of foreign currency and what that means to us, the American Economy. They didn't seem to understand that the U.S.D (U.S. Dollar) isn't wat it use to be and that a single euro is worth twice the U.S. dollar is now. However, with our current policy makers this is only the tip of the ice berg and is only going to get worse before it gets better.

Don S on :

This chap is a perfect example of the decline in math education in the US. $1.43 per Euro is not 'twice'. The £ is worth $2 now for the first time since the late 80's, having been as low as $1.40 in 2000 I believe. "Did you know that the evil European Central Bank prints 500 Euro notes in order to appeal to drug smugglers?" I daresay. Of course th 'evil' Federal Reserve prints $500 bills to serve the same market. Actually I think it's for the dodgy Russian businessman market more than for the dope dealers, but that's just a theory...

Badboy Recovered on :

http://www.youtube.com/watch?v=rN2VqFPNS8w Tell that idiot to read a book! LOL

Pamela on :

And everyone knows the hip-hoppers are the vangard of American culture. This is a shot across the bow. Now that the American cultural avant-garde are hyping the euro, Europeans must take refuge in some other currency in order to preserve their moral, multi-culti hegemony. Maybe the renminbi. Oh, wait. Better idea. The ruble.

bahati on :

Check out your boy Jay-Z

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