George W. Bush and Radiohead

Now, normally, the only sentence that contains both “George W. Bush” and “Radiohead” would be something like “Radiohead does not like George W. Bush.” After all, they even named an album after Bush in a pejorative fashion.

But the connection goes deeper. People don’t want to pony up the dough for the Discbox, because the Euro is a much stronger currency than the dollar right now. 40Euros is about $81 dollars, making the Euro worth twice as much as the dollar.

And for that, you can thank George W. Bush in a large part. But how, you ask? Good question.

Let’s start with the obvious: the ballooning budget deficit. When GWB came into office in 2000, we had trillions of surplus, which might have gone to pay off our debts. But instead, GWB decided to cut taxes. Furthermore, he cut even more taxes during wartime, something which has no precedent in American history. Of course, you can’t blame the deficit increase all on him, since September 11, combined with the bursting of the tech bubble, contributed to the depression we had in 2001-2002. But a large part of our increasing deficit can be traced back to GWB’s administration.

Second: the trade deficit. China is now a big issue to the public, but becausely babies start to get sick from plastic toys with too much lead. But the trade deficit with China by itself is not anything new.

Third: decreasing exports. So while as we import more cheap Chinese-made goods, our exports are decreasing, even more so than before. No one wants to buy our products. Why? Probably because American goods are just not that good. Why? Because we don’t invest enough in our education. We don’t invest in career-training for those workers displaced by manufacturing outsourcing.

Finally: too much easy credit. So what has been happening was that American consumers have been borrowing heavily on easy credit to purchase imported goods. Eventually, the credit bubble burst, and we are seeing that play out today.

All of this add up to this: the dollar is becoming less valuable, and its worth is falling quickly against the Euro.

Therefore, people who want to get the Radiohead boxset can’t afford to do so because the weak dollar.

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2 Responses to “George W. Bush and Radiohead”

  1. Peng Says:

    Monetary exchange is going crazy. My cousin’s friend lost 2k in one night.

  2. ysogreen Says:

    Hey, I recently discovered this blog and it’s been an interesting read.

    Just wanted to note that “Hail to the Thief” was not named in honour of GWB – Thom himself said: “If the motivation for naming our album had been based solely on the U.S. election, I’d find that to be pretty shallow”.

    🙂


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