Cindy Adams Fails Economics 101

cindyadams.jpgIn Cindy Adamscolumn this weekend, she rails against our increasingly credit-based society (or something like that. Frankly, we never understand what she’s writing.)

Not only is it confusing, she also includes contains a glaring error. Adams writes, “Reach into your bag and pull out dollar bills — printed by the Feds, backed by gold — and salespeople shrink in horror.”

Forty years ago maybe, but our cash hasn’t been backed by gold since 1971 when we went off the gold standard. The Post isn’t a bastion of journalistic integrity or accuracy, but they should be able to get basic matters of fact correct, especially one pertaining to the economy they are so happy to point out it failing.