Morphine Economics
Morphine Economics I own a large collection of antique engravings and maps dating back more than five hundred years. They tell a fascinating story that divines the future if you are perceptive to their wisdom. Clipper ship entrepreneurialism was the strong, steady wind that propelled forth the Age of Discovery. The embassies, merchants and holy men billeted on these magnificent ships faced incredible hardship as they searched for undiscovered trade routes that could potentially change the balance of power while enriching themselves beyond imagination. Chinese Qianlong Emperor Included in my collection is a large engraving that mapped a British Embassy sent to Beijing in 1798 at the height of the Chinese empire to meet with Emperor Qianlong. Emperor Qianlong had no use for foreigners. He derisively... Read More
Alan Grayson: Is Anyone Minding…
Many Americans mistakenly believe the trillions of dollars to pay for the Obama administration’s unprecedented and historic government intervention, entitlements and social welfare is securely stashed away in a big safe somewhere in Washington. There is no vault and there is no cash; there is only “vapor paper” being created out of thin air. The Obama deficits are already projected to be more than $11 trillion or roughly equal to our entire national debt over our 233 year history; and he has barely gotten started. Since the sheer amount of this debt is so monumental, there will not be enough buyers at the Treasury auctions to absorb it. The Fed will be forced to buy its own paper. The U.S. Government seems to think they can solve our debt problem by creating more debt. Monetizing... Read More
Just Tax
I am encouraged that the younger people in our country are becoming painfully aware of the suffocating debt burden that our government is shackling them to; that can never be repaid despite inevitable tax increases. They have been betrayed. Read More
Mad Money
The Obama Administration came to DC town promising to spend everything and the kitchen sink. In this regard, they have not been a disappointment. Many Americans mistakenly believe the trillions of dollars to pay for Obama’s unprecedented and historic government intervention, entitlements and social welfare is securely stashed away in a big safe somewhere in Washington. There is no vault and there is no cash; there is only “vapor paper” being created out of thin air. Quantitative easing is a phrase that has come into the lexicon lately. When interest rates are at or near zero and the commercial banks are still not lending money, the Fed injects massive amounts of money into the economy through accounts held by the banks at the Federal Reserve. The Fed buys bank securities,... Read More