Bill Bonner here at The Daily Reckoning draws attention to Tim Geithner,
Secretary of the Treasury of the United States of America, and the now infamous
"Welcome to the Recovery" piece he wrote for The New York Times, which I meant
to read, and tried to read, but I could only get part way through it before
getting visibly upset with such self-serving, lying, sophomoric qualitative
excuse-mongering.
I also think I remember quickly scanning the article, but it was just, "Bah!
More of the Same Old Crap (SOC)" about how the brave, handsome and beautiful
brilliant Obama people (like Mr Geithner himself) and the brave, handsome and
beautiful geniuses in congress courageously worked together in a glorious
heroic effort to "save us" from the terrible fate of booms caused by
inflationary increases in the money supply and the cancer of
deficit-spending governments grown to grotesque proportions, by (oddly enough)
providing more government grotesqueries by dint of outrageously more
deficit-spending and even outrageously more money created by the outrageous
Federal Reserve! Outrageous! How could I continue reading such crap?
Anyway, Mr Bonner thankfully does not mention how I seem to be working myself
into a Raging Mogambo Snit (RMS) about this stuff right in front of his eyes,
like some kind of weird Jekyll and Hyde monster, or how I am so angry that
little specks of spittle are flying out of my mouth at high rates of speed as I
speak, which I do, loudly, so that even the furthermost disinterested passerby
will hear me and think to him or herself, "Gee! The Federal Reserve is a
monster that has destroyed us with their stupid neo-Keynesian econometric
inanities, which apparently translates as '‘Mathematical reasons why the money
supply should be increased all the time, only varying between more and a lot
more, depending upon, you know, the current whim as to arrangements of formulae
and computer models!'"
Instead, he apparently intuits that it would calm me down to note that Geithner
mentions "that households were paying down their debts", which he somehow sees
as "a sign of recovery".
And you know what? He was right! Whereas I was angry, now I am laughing!
Hahaha! I am laughing the Bitter Laugh Of Scorn (BLOS) at Tim Geithner and that
anyone else would see good news in massive leveraging of a depreciating fiat
currency to amass suffocating, bankrupting, un-payable debt levels in every
part of the economy, leading to less consumption, leading to losses, declining
sales revenues to retailers, credit card companies, and taxing authorities.
Hahaha! Bitter Laugh Of Scorn (BLOS)! BLOS! Hahaha!
Apparently, I was too detailed in my explanation of how Tim Geithner is an
idiot, and I was immediately bombarded with questions like "Did you say
something that was not stupid?" and, "Could you explain that, please, or are
you too stupid?" and, "What is wrong with you that you sound so stupid?"
So I was soon busy with explaining to the media nerds how a consumer-driven
society, especially one where total government spending is half of GDP, is the
Shining Path To Doom (SPTD), and Mr Bonner shows not only real insight into the
problem, but with the brevity that is, so they say, the soul of wit, which
explains with crystal clarity that debt repayment is not, as Mr Geithner
believes, a sign of recovery, as, in a consumerist, debt-driven currency and
economy, "it is actually the source of the slump".
Paradoxically, it is also the sign of a boom in gold, silver and oil which,
because they are so cheap right now, makes you gloat, "Whee! This investing
stuff is easy!"
Richard Daughty is general partner and COO for Smith Consultant Group,
serving the financial and medical communities, and the editor of The Mogambo
Guru economic newsletter - an avocational exercise to heap disrespect on those
who desperately deserve it.
(Republished with permission from
The Daily Reckoning. Copyright 2010, The Daily Reckoning.)
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