JP via RSS
Default Deflation Depression III~ Versus the Myth of the Salvation of Hyperinflation
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
But experts on government payrolls and their media handlers want to make common sense about common cents mysterious and obscure.
Raising income taxes on the rich can never pay off mandated debts and derivatives exceeding the size of the world economy.
100% taxes would run Federal Government less than a year. State governments would still be broke.
The only cure is spending less than we have.
If we have nothing, we go to work instead of putting it on a credit card, equity line, mommy government account or student loan.
The real cost of interest on public and private debts, -6% annual GDP plus the nominal rate, is devouring our economy.
Interest on the Federal debt is the third largest item of the budget if Medicare and Social Security are combined. In a few years Federal Reserve usury may be the largest budget item, larger than the military industrial media government complex, Medicare, Social Security and healthcare.
The borrower is slave to the lender.
Proverbs 22:7
Neither a borrower nor a lender be. For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry.
Polonius in Shakespeare’s Hamlet.
It was President’s Day with the US markets closed.
The fallout from Asia, Africa, Dubai, Greece, Russia and South America continued.
When all else failed, why not respect the wisdom of American founding fathers?
Reread Washington’s Farewell Address, Jefferson’s Inaugural Address and Lincoln’s Gettysburg Address posted on Presidents’ Day.
