Yes, the Republicans are experts with the economy. The pathetically weak dollar triggers a new record high for oil as it closes at $104.52. Can you imagine the “let market decide” people from a McCain administration? We seem to be hitting “new record highs” and “new record lows” but in all of the wrong places in recent months.

More economists are also seeing even more trouble ahead. Stephen Roach, Chairman of Morgan Stanley Asia has another interesting though critical read on where the Fed is taking our economy.