Sunday, September 19, 2021
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Children of the Abundance

We are the children of abundance. Peggy Noonan said so back in 2009 and even a blind hog finds the occasional acorn (sorry Peg). America has always been blessed and therefore exceptional, but the wealth creation that began under Reagan and lasted until 2008 was a magical thing. It’s was so good for so long that we began to believe it could never end.

Even with the big bang in 2008 there are still people, many who are politicians who are operating as if America is somehow above the basic laws of economics. Social Security is broke? It can’t be. This is America. We make and break countries. We are the world superpower. We don’t go broke. Find a way.

Quantitative easing is their way but it isn’t magic. It’s doublespeak for double speed with the printing presses at the FED. We can print our way to success. Really? Apparently, because the pimpers of the markets are crying out for QE3. Here we go again . . . triple triple, toil and trouble, fire burn and cauldron BUBBLE.

Don’t do it Ben. The children of abundance can’t help themselves. The callous child who governs over us can not help himself. Somebody’s got to be the grownup.

texasgalt
Texas native. Conservative small businessman with 31 years experience. Government should roll back the nanny state. No country can tax its way to prosperity. The question isn't who will let me but who will stop me?

5 COMMENTS

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5 COMMENTS

  1. Good Lord no!

    Do these people not understand the consequences of increasing the money supply at a rate significantly faster than the growth of the economy? Or do they not care about longer term consequences in favor of short term gains?

    I’m beginning to thing the gold bugs had it right after all. Normally, I have no use for shiny yellow bits of metal, but if the Fed is going to use the Weimar Republic as an economic model, I may have to rethink that stance.

    P.S. Oil will shoot back up with a huge easing and food prices will continue to climb. These will have a long term effect opposite the intended outcome.

    • Well, if you don’t mind deflating the dollar and driving the price of everything else up, QE is your huckleberry.

      We are going to get QE3 and there’s not a darn thing we can do about it. One man has the power. That’s scary.

  2. Great post, Tex–this is the at the crux of the Obamanization of the US and consequently the world. Heard Kudlow start frothing at the mouth with excitement yesterday afternoon on his radio show, that “QE3 is coming and that is fantastic.” I’ll just say I immediately turned him off.

    I turned him off and my blood pressure skyrocketed. This is assinine and everyone sane knows it. I’m too afraid to understand QE3 better than I already do, so with your forgiveness, I must forego the pleasure of the video. I like my heart too much.

  1. Good Lord no!

    Do these people not understand the consequences of increasing the money supply at a rate significantly faster than the growth of the economy? Or do they not care about longer term consequences in favor of short term gains?

    I’m beginning to thing the gold bugs had it right after all. Normally, I have no use for shiny yellow bits of metal, but if the Fed is going to use the Weimar Republic as an economic model, I may have to rethink that stance.

    P.S. Oil will shoot back up with a huge easing and food prices will continue to climb. These will have a long term effect opposite the intended outcome.

    • Well, if you don’t mind deflating the dollar and driving the price of everything else up, QE is your huckleberry.

      We are going to get QE3 and there’s not a darn thing we can do about it. One man has the power. That’s scary.

  2. Great post, Tex–this is the at the crux of the Obamanization of the US and consequently the world. Heard Kudlow start frothing at the mouth with excitement yesterday afternoon on his radio show, that “QE3 is coming and that is fantastic.” I’ll just say I immediately turned him off.

    I turned him off and my blood pressure skyrocketed. This is assinine and everyone sane knows it. I’m too afraid to understand QE3 better than I already do, so with your forgiveness, I must forego the pleasure of the video. I like my heart too much.

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