Economic Collapse

This is actually exactly how money works on Wall Street these days. I’m not kidding, but Jon Stewart sure is:
The Daily Show With Jon Stewart: In Dodd We Trust

“We are all Keynesians now” quothed first Friedman, then Nixon going off the gold standard in 1971, and now the followers of Bush’s and Obama’s quantative easing money printing schemes. All quothed in despair, because only a fool cannot see that unlimited use of the money print will lead to hyperinflation. So, here we are in 2010, stimuli a la Keynes or sound economics with the Astrian School? Well, time will tell if we wise up. Enjoy this funny, yet thoughtful, rap video.

“If you’re living high on that cheap credit hog
Don’t look for cure from the hair of the dog
Real savings come first if you want to invest
The market coordinates time with interest

“Your focus on spending is pushing on thread
In the long run, my friend, it’s your theory that’s dead
So sorry there, buddy, if that sounds like invective
Prepared to get schooled in my Austrian perspective”

Perhaps slightly off-topic but still within the scope of this blog: This will open the flood gates and corrupt the Hill even more. This comic says it all.

This can only lead to much more of this:

…and this:

Cutting the federal deficit is the only way back to a sound economic recovery and job creation. You can’t keep spending money you do not have forever. The fact is that the US is broke. Until the federal deficit is turned back to a surplus the Fed will keep printing money through “quantitative easing” which should more appropriately be called “massive worsening” leading to hyperinflation and the death of the US Dollar. Obama plans to “cut spending” with a total of 250 billion US Dollars over 10 years. Yes, 10 years. Thats 25 billion each year at the same time the official expected federal deficit is 1.35 trillion. Thats 1 350 billion. Obama just announced “savings” of less than 2%. I guess its a start…

Plucked Economy (St. Louis Post-Dispatch, November 22, 2009)
http://www.rjmatson.com

Spam creators are really creative. This to me is a clear signal that banks are failing fast (last week the 100th bank this year failed in the US). Spam creators are not late to try to capitalize on other peoples misfortunes. The message reads “FDIC has officially named your bank a failed bank”: