Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24
US House Prices Trend Forecast 2024 to 2026 - 11th Oct 24
US Housing Market Analysis - Immigration Drives House Prices Higher - 30th Sep 24
Stock Market October Correction - 30th Sep 24
The Folly of Tariffs and Trade Wars - 30th Sep 24
Gold: 5 principles to help you stay ahead of price turns - 30th Sep 24
The Everything Rally will Spark multi year Bull Market - 30th Sep 24
US FIXED MORTGAGES LIMITING SUPPLY - 23rd Sep 24
US Housing Market Free Equity - 23rd Sep 24
US Rate Cut FOMO In Stock Market Correction Window - 22nd Sep 24
US State Demographics - 22nd Sep 24
Gold and Silver Shine as the Fed Cuts Rates: What’s Next? - 22nd Sep 24
Stock Market Sentiment Speaks:Nothing Can Topple This Market - 22nd Sep 24
US Population Growth Rate - 17th Sep 24
Are Stocks Overheating? - 17th Sep 24
Sentiment Speaks: Silver Is At A Major Turning Point - 17th Sep 24
If The Stock Market Turn Quickly, How Bad Can Things Get? - 17th Sep 24
IMMIGRATION DRIVES HOUSE PRICES HIGHER - 12th Sep 24
Global Debt Bubble - 12th Sep 24
Gold’s Outlook CPI Data - 12th Sep 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Printing Money to Pay Debts, Fast Track Way to End Our World

Economics / Quantitative Easing Feb 28, 2010 - 08:31 PM GMT

By: LewRockwell

Economics

Best Financial Markets Analysis ArticleRichard Daughty writes: The proverbial boogeyman, the phrase “end of the world as we know it,” is not particularly significant to me because it is, literally, always true, because any progress at all, anywhere, means that tomorrow will never be like today, and so “the end of the world as we know it” can be extended to mean “and it will be better and better!”


So, it is not very significant, especially when I get argumentative by being literal and obtuse about it, like now, which is my mood lately.

But when you use the phrase “end of the world as we know it” in the metaphorical sense, meaning “some terrifying catastrophe, to the maximum, in spades,” then it means something much uglier and catastrophic, which you already knew since I used the word “catastrophic” earlier in the sentence, teeming, as it does, with evil portents of ravenous beasts eating you and your family alive, your agonizing screams mixing with squawking vultures pecking hungrily at your liver, and the dead rising from their graves to pursue us endlessly so that they can eat our brains.

Anyway, that’s the way I have it figured, having distilled an entire lifetime of watching TV down into these kinds of little philosophical nuggets.

And since I am by nature dyspeptic and paranoid about the inevitable, horrible result of a growing government, a growing class of people dependent on government, and a Federal Reserve constantly creating more and more money and credit to accommodate them both, I think that I understand the use of the “end of the world as we know it” in its most disturbing sense, because ruinous inflation in prices – the Grim Reaper of economics! – is thus inevitable.

What to do? Well, the sad truth, that you learn as part of attaining True Mogambo Enlightenment (TME), is that nothing can be done, as proved by the One Freaking Fact (OFF) that if debts could be made to just disappear – poof! – by printing money, then everyone, and every country, would do it! And would always have done it!

But nobody, and no country, has ever succeeded in printing money to pay their debts without causing hyperinflation in consumer prices, as the people rose up in revolt, the whole country disintegrated, it was a big mess and everything was ruined.

This – this! – means that you should look deep, deep into my eyes so that you can see the Utter Mogambo Sincerity (UMS) in my eyes when I say that this means to everybody with one functioning brain cell that it Can’t Be Done (CBD) simply by virtue of the fact that nobody in history has ever done it, although many, many, many people have tried everything they could think of to do it, including putting merchants to death for daring to raise their prices high enough to cover their inflating costs!

This is one of the tried-and-true ways that governments (“desperate morons in charge!”) seem to think will actually work, despite the obvious stupidity of it, and that is why I was shocked when I saw that Obama is endorsing legislation to prevent health insurance companies from raising prices! Unbelievable! Gaaaaahhhhh!

As indicated by the sound effect in the “Gaaaaaahhhhh!,” one can only manage a scream of Loud Mogambo Outrage (LMO) at the sheer, staggering, socialist stupidity of declaring prices, a sound not unlike the Freaking Sound Of Doom (FSOD) already ringing in your ears or you wouldn’t be reading this, which is a clarion call, if ever there was one, to hie thyself, to make ready, the Mogambo Bunker Of I-Told-You-So (MBOITYS), because, brother, one of these days very soon you are going to be glad you did.

And if you bought gold, silver and oil with a gasping, grasping, gluttony of greed, then, likewise, one of these days very soon you are going to be glad you did!

Richard Daughty (Mogambo Guru) is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo Guru economic newsletter, an avocational exercise to better heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron’s, The Daily Reckoning, and other fine publications.

Copyright © 2010 Daily Reckoning

© 2010 Copyright LewRockwell.com - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

don
10 Mar 10, 09:10
economy

I have said this before, a buddy of mine and myself sat down one day back in 1996 and drew the graph of when the US reaches the point of "no return" and when the major failures would start to occur and when total collapse of the US dollar happens.

To date...point of no return was 2001-2003

major economic failure 2007-2009

total collapse $US 2011-2013

Fact is, if 2 laymen could see this 14 yrs ago..then it was known and planned. What we did back then was not magic but simply following the numbers into there exponential vertical graphs laid over a time line.

I knew/know when the events will happen but I am not sure what will happen on the other side of the 'total' collapse.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in