...no, it's not a good five cent cigar. According to the always shrill, increasingly irrelevant Little Paulie Krugman it's a good healthy dose of inflation to get this country. Let me explain.
Apparently, the political left, led by the likes of David Axelrod and Valerie Jarrett (yep, THAT Valerie Jarrett) have decided that they are in trouble with their class warfare strategy for 2012, losing the spending battle with the public and facing a less-compliant Federal Reserve, have let the word go forth that it's time to frame the argument in terms the public really will not understand and Little Paulie and all libs of every shape and size have jumped on the band wagon. It's really the same old, tax, tax, spend, spend agenda but when you speak of "just a bit more inflation" it doesn't sound too bad. The fact that the people who are really hurt by inflation are those in the lower income groups whose earning have never in history kept up with inflation is hardly a concern to this mob. Those folks wont discover that until it's too late and The Leader has been reelected. They have absolutely no shame. Make no mistake, A LOT of inflation will get us out of the fiscal box we find ourselves in but the price...oh, we'll just worry about that later as we always have done. They are devoid of ideas and refuse to recognize that the philosophy is wrong. Note that in this latest march in the direction of fiscal insanity The Suit has been silent and will remain so. He will probably survive but only because there are not minions beating on the door for the job. Nobody wants to work for Valerie Jarrett. Enough of my political "wisdom."
This was truly The Week That Was. What a mess and it is not yet over. There is a big pow-wow in Euroland this weekend and what emerges from that will have a big effect as to whether we have to endure another week like this one. It's as much political as financial at this stage, which was always to be the case, yet, strangely, the politicians are no closer to agreement than at any time in the recent past. This is a continent of vastly different people with none trusting the others completely. As I have often said there is 800 years of them trying to kill one another: those memories really never die or as my friend Edward Michael Donegal would put it, "An Irishman takes a grudge to the grave." I suspect not a lot of real progress will emerge on Monday but with the Italian parliment having agreed to an austerity package demanded by the ECB, the crisis--if there was one--over Society General's funding problems having quieted down...as predicted I might add..Greece in a holding pattern and yields on Spanish and Italian slightly under 5% on the day, the dog barks and the caravan moves on. Soccer begins in parts of Euroland tomorrow so at least there will be circuses if not bread for the masses to get us through the weekend. I least I think so. Oh, we are not going to have as much corn as we thought here in the fly-over zone but what we are getting is wonderful. Off to pick a few more ears for dinner. Have a great weekend
No comments:
Post a Comment