Interesting Times Bulletin (For This Week)



The GOP-controlled House today passed the budget bill, a ‘bipartisan’ agreement that spending will accelerate regardless of the absence of money. The next Republican pol who deplores deficit spending should be prosecuted and hung for fraud; neither Charles Ponzi nor Bernie Madoff are even in this league.

Admittedly, a budget spends no money; it’s only a plan. Future appropriations bills will actually serve up the spending. But with this budget locked in, we know that the spending is coming and that it will continue to depend upon dollar-destroying Fed money printing that dilutes and ultimately, destroys our dollar. Any wealth you own denominated in dollars shrinks in value with every new dollar the Fed pumps out. Your elected financial assassins don’t mind; the cheaper the dollar, the easier for them to handle repayment of the debts they have run up. Inflating away their debts is a significant part of this economic suicide pact in which the two parties are joined.

Meantime, look for places to park any money you don’t need to spend now, places that don’t depend upon the value of the dollar. Property, commodities, precious metals…things that have intrinsic values and that are likely to retain those values regardless of monkeyshines in the financial system. We are watching the financial suicide of the planet’s largest national government, and it is absolutely bipartisan. The U.S. does not have two political parties any longer; it has one with two groups of bagmen.

In other news, the nascent new Congressional sanctions against Iran, aimed at heading off its nuclear armament, have foundered at the dock. The analysis of the sanctions to date offers little optimism for their success. In the long run, any nation with sufficient interest will develop nuclear weapons as North Korea and Pakistan have already proven. We are living in a Strangelovian world and may as well get used to it. It was begun, after all, by America, and if it had not occurred that way, others were lined up to accomplish it, including Nazi Germany. What goes around as they say, comes around…

Our little old world is becoming more interesting all the time…

About Jack Curtis

Suspicious of government, doubtful of economics, fond of figure skating (but the off-ice part, not so much) Couple of degrees in government, a few medals in figure skating; just reading and suspicion for economics ...
This entry was posted in Budget, Deficits, Iraq and tagged , , , . Bookmark the permalink.

3 Responses to Interesting Times Bulletin (For This Week)

  1. Pete says:

    They just do not care! Smart men do not continue to do stupid things unless they know something we mortals do not. I am sure when I am paying $15 for a loaf of bread these guys will not be suffering.

  2. Pingback: The budget, family and future pain | Pete's Alaska

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