Friday, July 15

To Have Not

Madeleine's heart set on a mobile "for emergencies". Let it be known our policy age-11 , which the kids put in the "gyp pile" alongside the Nintendo DX, wii, Xbox and various other medias we do not have yet apparently enjoyed by every household in the universe.

A predictable crisis : when 12 million Americans owe more than their homes worth the country running on empty. Who can dispute this observation when the US govt borrows $4.5 B a day to just keep going. And this : the Fed buys 70% of all new Treasury paper, making the government the largest client of its own debt. This possible by increasing the money-supply and the balance sheet of the Fed itself, a practice that will eventually blow up.

"I'll gladly pay you Tuesday for a hamburger today."
--J. Wellington Wimpy