Thursday, October 15, 2009

blind arrogance

I cannot understand the congress and administration. They continue to act as if there has been no change in the ranking of world currencies and world powers. We are a debtor nation with a steadily weakening currency surviving on credit extended to us by the rest of the world yet congress and the administration are profligate as ever. They continue to borrow and spend. They manufacture money by fiat and issue debt instruments without regard for the eventual day of reckoning. I can foresee only one result, devaluation of the currency enabling payment with cheaper dollars.


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