Can one of the board economics gurus put this in plain speak for me?

Bush is just trying to keep the economy going until after the election. I would hate to be president next term.....

I am no economic expert, but it seems like we may be facing problems that I have never
seen in my 55 years. I know thiings were bad in the Carter administration.

Here we have the devaluation of the dollar. The price of petroleum is causing the price of just about everything to significantly rise. The farmers are raising crops for Ethanol production instead of food. They are scooping up the incentives to do so. This is pushing up the price of food.

It almost seems like we are having a strong financial recession along with fairly strong inflationary price hikes. It is phemomena I can't remember witnessing.

Can someone expand on my observations? What in the world do you think is gonna happen??

Joe