Great Idea on Many Levels

Finally, a good economic idea. And from, of all people and places, Hugo Chavez and Venezuela.

Their currency, the bolivar, was too expensive. In dollars, for God's sake. So Chavez has devalued the bolivar. Twice in the same devaluation. How efficient is that?

The bolivar will now be worth two values, depending on what it is buying. Brilliant! Chavez will now buy a $10 chicken sandwich for 26 bolivars and a $10 Marc Anthony download for 43 bolivars. He has actually devalued the bolivar against itself!

Why can't the US do something similar?

Essentials, like bread, cat litter, cable or a certain author's work, would be had for 50 cents on the dollar. Frivolities, like a Starbuck's Latte or a Senator's campaign contribution could be had $1.50 on the dollar. Debt held by the Chinese, maybe, $2.00 on the dollar. The potential for tricking our way out of recession--okay, we've mostly done that already--are tantalizing.

And suggestions are solicited. (Remember, under Blog policy, I will take credit for the good ones and send bad ones to TIDE.)