Debasing the coin of the realm

The morning after the US dollar closed at roughly $1.05 Canuck bux it is somehow completely appropriate to wake up to the news that the promised one has been annointed with a Nobel Peace Prize. Leaving aside the fact that he would have had to be nominated within weeks of taking office at a time when he clearly had done less than he has now this is a very bad joke. The Nobel committee has become nothing more than a UN cheerleading squad. I've heard comparisons to the Academy Awards this morning but that does ill service to the Academy. They at least provide employment and some measure of entertainment.

So far all the annointed one has done is not be George Bush. He hasn't implemented any policy domestically let alone internationally. What he has done is promise to spend money on a scale never before seen and the world has rendered its judgement on the wisdom of those announcements. That judgement can be seen in the chart above.

So it seems appropriate that the man who is debasing the greenback is now also debasing the Nobel Prize.