Dear Mitt: here is why Rick Perry is eating your lunch

Dear Mitt:

Rick Perry has arrived on the scene and with comparatively little real-world experience and average charisma for a politician he is eating your lunch.

Here is why. Around the world, people are feeling the effects of the weak dollar. Revolutions in Egypt, Syria, unrest in Israel and Britain have a common theme: everything is more expensive and our wages aren’t going up to follow.

Rick Perry came on the scene and attacked the “treasonous” Ben Bernanke. Bush advisors, the voice of the establishment which supports you, claimed he stuck his foot in his mouth. Or did he? Rick Perry owes his success to Ben Bernanke but either by accident or by sensitivity to his audience put his finger on the most pressing problem of our economy, the weakening dollar.

Products with short contracts, of which the entire yearly supply is sold out in under a year, will adjust to the new value quickly. Products with long contracts which take 30 years to sell the whole supply, will take that long for average prices to show the new value of the dollar.

The effects are obvious now. Rick Perry is simply riding the wave of spending on oil, not because he’s any smarter than any other governor, but because the major products of his state are at an advantage during the period when the dollar is weakening. That might be an economic curiosity, except people are dying in riots and revolutions around the world because bread is really expensive.

Gold does not show inflation, it shows the value of the dollar. That is why it worked in the past as a fix for your currency, and why championing gold, even in a way that could be destructive such as Ron Paul’s method, is gaining so much attention among primary voters.

You had the opportunity to lend attention to this issue but you whiffed it. I believe that you would be twice the president of Rick Perry, but the way to beat him is not to attack his credentials and make a safe space for your own inadequacies. The establishment is terrified of Perry because they make more money on financial facilitation and currency arbitrage than on helping companies create products that people want to buy (which is your strength). The way to beat him is to understand what is propelling him forward, adopt it, and demonstrate your superior personal qualities.  

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