July 2, 2012
Don't They Ever Run Out Of Ink?
Fresh off the press at MSNBC comes a useful article for a change. Manufacturing contracted for the first time in three years, a sign that the companies that make the stuff we buy are anticipating tougher times ahead -- not quite the "private sector is doing fine" assurances that Barack Obama shared with us the other week.
More troubling, however, is how the markets reacted to the news. It's not that I'm wishing for a steep drop, because God knows my 401(k) has been on a roller coaster ride lately; but the assertion that the Fed is cushioning the blow with even more more easy money policies makes me very, very nervous.
The reason? Interest rates are already near zero--which means the only way the Fed can make things "easier" is to -- drum roll, please -- that's right, print more money!
Basically, the administration is continuing to feed the stock market a sugar high in the hopes of keeping the Dow elevated. While this makes things look better in the short term, the time is going to come when all that loose money is going to cause massive inflation. Some predictions have it happening as soon as next year.
Throw in ObamaCare, the expiration of the Bush tax cuts extension in January, and the reams of regulations imposed by Washington since Obama took office, and the picture doesn't look at all good. Hang on to your assets, folks.
Hatched by Korso on this day, July 2, 2012, at the time of 6:42 PM
The following hissed in response by: gordo
Who does this sound like to you?
He has refused his Assent to Laws, the most wholesome and necessary for the public good.
He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.
He has obstructed the Administration of Justice, by refusing his Assent to Laws for establishing Judiciary powers.
He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people, and eat out their substance.
He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:
For imposing Taxes on us without our Consent:
For depriving us in many cases, of the benefits of Trial by Jury:
For taking away our Charters, abolishing our most valuable Laws, and altering fundamentally the Forms of our Governments:
In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.
This refers to George the Third, King of England, and is from the Declaration of Independence.
The following hissed in response by: Bart Johnson
As a Historian, I record that inflation began at least two years ago, regardless of what the Government says. After all, they have a ton of money involved if they have to pay COLA to millions of Seniors, like me
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