The last time US Money Supply [M3] dropped so sharply was 1929-1933. Trillions of porkulus debt-dollars and many months of zero-interest FED rates later, it started to 'plummet' last summer and the rate of decline is accelerating.
So what?
You know what. You cannot borrow or spend your way OUT of debt, but neither you nor I are in Government right now. The three-ring circus running the show today are ALL flaming Keynesian economists (the ones who aren't bleeding Marxists, that is) and their solution is:
- Print more money?
- Spend more money (even if borrowed)?
Saner economists like Hayek and Friedman are being ignored, as is history.
Obama-Soetoro wanted to be the second FDR, and it looks like he will be an uber-FDR extending and deepening the economic collapse beyond anything yet seen to date and beyond what it would be without these clowns aggravating the situation by putting out this fire with gasoline.
- What IS it with people who believe in Communism despite it never having worked? Same for Keynesian economics. BOTH epic fails every time.
Forget about lighting cigars with dollar bills and plan on using twenties instead...they'll soon enough be 'worth' only a buck thanks to the deep-thinkers of Team Obama!
Oh, yeah...I almost 'forgot' to throw in "recovery!" Look at how the global markets are "recovering."
- Party like it's 1929!!!!!!!
Friday, 28 May 2010
Just print-spend more money!...................from Rico
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2 comments:
The White House is on the back of the 20 but the Red Shed belongs on a 3 dollar bill.
Saner economists like ... Keynes, who would have disowned this lot.
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