Wednesday, January 16, 2008

Worthless Money frightening prospect


Unfortunately this picture is real. This morning Lord Kadizzle faces the frightening prospect of going back to work. The false economics of the Bush years has resulted in a decline of 18% of our assets. Couple this with inflation that is rapidly accelerating, a dollar that has been devalued, and you can easily make a case for a decline in dollar value above twenty percent. Bush's tax policy of breaks for the rich is nothing but a Ponzi scheme. These things always collapse. The game that was played in the housing market is exactly the game the Bush administration has played. Real wages have actually declined. Read the whole thing in NYT. As I write this CNN is reporting that the politicians think the whole thing can be solved by what caused it in the first place. Tax cuts don't work, but they have such a nice ring. No one has the guts to tell Americans you have to pay for things when you purchase them, not put the bill on the next generation. We have become a nation of spoiled brats that don't want to be denied anything.

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