I laughed when I read a Bloomberg story that reported, “China said it would ‘welcome’ a positive statement from the US on the stability of Chinese-held dollar assets during next week’s summit in Washington between President Hu Jintao and President Barack Obama.�
Mistakes With Minimum Wage
January 7, 2011 by Leave a Comment
As if China does not have enough problems with inflation as it is, being 5.1% overall and with 11.7% inflation in food prices, now, astonishingly, Bloomberg reports that “Beijing will raise the minimum wage by 20.8% in 2011, becoming the latest local government to lift pay in a country where inflation is running at the fastest clip in more than two years.�
[Read more...]Verbosity is the Soul of Financial Fury
January 5, 2011 by Leave a Comment
I have to admit that I get awfully tired of people writing to me and asking, “Are you as stupid as you look and sound?� mostly because I have truthfully answered “Yes� to this question so, so many times that I thought it was, you know, common knowledge by this time.
I mean, people usually refer to me as “stupid� all the time, as in, “Shut up, stupid!� and, “Get out of my way, stupid!� which is not to mention all the times I overheard my wife telling one of the kids, “Tell your stupid father that dinner is ready.�
[Read more...]Price Inflation to Pay the Debt
January 4, 2011 by Leave a Comment
The lights of the Mogambo Security System (MSS) glowed dimly in the gloom of the bunker as I cowered in the darkness, and there were no sounds except the thumping, thumping, thumping of my terrified heart at The World Outside (TWO), a place I consider to be a vicious, hostile environment containing not only enemies of every sort, both real and imagined, but family members who want to know if I am coming out for dinner, or to tell me that someone is on the phone for me, or that somebody is going to greedily eat the last of my treasured Double-Stuf Oreos, somehow trying to get me outside and into their clutches so that they can take all my money and ask me to sign various forms and documents.
The Nomadic Nature of Money
January 3, 2011 by Leave a Comment
I was intrigued that a guy named David Thurtell, of Citigroup, surprisingly said, “The liquidity pumped out by central banks means that there is a lot of money sloshing around that needs to find a home.�
I was so intrigued that I was tempted to use it as the basis for my first report to the new supervisor for this quadrant of the galaxy, Karpus Klegg the Implacable, at his new office at Intergalactic Headquarters after the “palace coup� and interstellar personnel shake-up that I just found out about.
[Read more...]The Last Angry Man’s Problem With IMF Gold Sales
December 30, 2010 by Leave a Comment
Adrian Ash of BullionVault.com writes that “the International Monetary Fund said it has completed the gold bullion sales program begun in October 2009,� and now 403 tonnes of gold have been sold.
I bring this up all the time because the whole thing pisses me off because we gave those IMF bastards the gold to provide gold-standard legitimacy for their stupid fiat currency, the Special Drawing Right (SDR). And yet here they are selling the gold we loaned them! Gaaahhh!
Investing in Gold Ahead of the Chinese
December 28, 2010 by Leave a Comment
There are a lot of things in this world that I do not understand, and perhaps it is because of this persistent befuddlement that, for some mysterious reason, I think it is Highly, Highly Significant (HHS) that the Chinese Gold & Silver Exchange is planning “a first�; an international gold contract denominated in renminbi.
[Read more...]The Year of Living Quantitatively
December 27, 2010 by Leave a Comment
There are increasingly those who predict hyperinflation, which is popularly defined as rapidly-rising prices that soon reach un-payable levels, and which is always caused by the true definition of inflation, which is (according to the Mogambo Big Book Of Economic Stuff (MBBOES), “A gigantic growth in the money supply, which is caused by banks deliberately acting like greedy, lying, filthy pigs who deserve to be thrown in jail.�
[Read more...]Why Fed Money Creation Hurts the Poor Population
December 24, 2010 by Leave a Comment
If you are like me, then you don’t quite understand what the hell is going on with this economic stuff, but you are pretty sure that it starts with the foul Federal Reserve creating so much excess money and that a lot of people ought to be in prison Right Freaking Now (RFN).
Knowing that, you then think to yourself that your Whole Freaking Life (WFL) is one long, dreary testament to the fact that all great mistakes start with having the money to finance them.
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A Three-Minute Lesson in Gold Investing
TheEconomicCollapseBlog.com had an article titled “10 Things That Would Be Different If the Federal Reserve Had Never Been Created.�
This is like my list of “10 Things That Would Be Different If I Was Rich� instead of being a weird little penniless paranoid recluse whose expensive family and expensive greens fees cruelly devour all my income, preventing me from buying lots and lots of gold, silver and oil as vital protection against the catastrophic inflation that will afflict us, thanks to the horrid Federal Reserve creating excessive amounts of money.
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