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Archive for the Debt/Deficits Category

Interest Rates ‘risin’? (March 30, 2015)

Posted in Bail In, Banks and Banking System, Credit Unions, Debt/Deficits, Federal Reserve, Stock Market on March 30, 2015 by e-commentary.org

. . .

1 “Can they.”

2 “May they.”

1 “Could they.”

2 “Should they.”

. . .

1 “The Federal Reserve cannot allow interest rates to rise because the Federal Government would be obligated to pay staggeringly more interest to service the ever metastasizing National Debt.”

2 “Someone in the Bureaucracy must be sober enough to realize that a rise in rates will trigger profound and devastating economic and financial consequences. Everyone will need to look up the word ‘derivatives’ in the dictionary.”

1 “I could see the Federal Reserve raising rates by ‘25 basis points,’ as they say, to show that they cannot do nothing. If they appear effete, they are effete.”

2 “Even a quarter percent rise may be enough to tip over the economic and financial game. Perhaps in desperation the Fed can generate real inflation then the Federal Government can pay the interest on the National Debt with deflated dollars . . . which reduces the real cost to the Government.”

1 “The Federal Reserve does what it wants to do, but its primary mandate is to maintain price stability. Inducing gross price instability is directly contrary to its raison d’etre. But then, do they care?”

. . .

2 “The dollars may not be worth anything in a few years, yet I will not pay money to store my money in a bank and also risk having my money confiscated by the bank to pay the debts of the bank.”

1 “When they slither from the ZIRP – zero interest rate policy – to the NIRP – negative interest rate policy – and start charging me to keep my deposits in their failing financial institutions, I am tucking all of my money in the Sealy Posturepedic Credit Union.”

. . .

[See the e-commentary at Money “In The Bank” Or “Under The Mattress” (October 8, 2012).]

Bumper stickers of the week:

Compound interest is described as the greatest invention of the 20th Century, yet it may be the most vexing challenge confronting governments in the 21st Century.

“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.” Ernest Hemingway, “Notes on the Next War: A Serious Topical Letter,” Esquire, September 1935

What goes down must go up?

ZIRP (Zero Interest Rate Policy) = Official National Policy . . . for all time?

NIRP (Negative Interest Rate Policy) = the straw that breaks

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Gas / Au / Ag / Cu: The Great Commodity / Currency Wars: What’s Up? What’s Down? What’s Really Up? What’s Going Down? (November 17, 2014)

Posted in "Fiat ______", Carbon Surcharge & Dividend, China, Debt/Deficits, Dollar - World's Reserve Currency, Football, Foreign Policy, Gold Standard, Middle East, Money, Peak Oil, Russia, Silver Standard on November 17, 2014 by e-commentary.org

. . .

E1 “Today’s high-tech town criers, LED scoreboards broadcast the news from every street and street corner. They proclaim that gas prices are down, gas prices are down, gas prices are down. The most public and publicized scores in our economy are even more prominent than football scores.”

E2 “Is supply up because Saudi Arabia has strategically increased the supply? Is demand down because the world is in recession? What’s really up? What’s really going down?”

E1 “What’s real? The great trifecta is at play. Saudi Arabia is advancing American political interests by undercutting Russian oil sales while also underpricing American fracking operators and undermining Iranian producers. Prices now below about $80 a barrel undermine American competitors who are fracking the production of oil at a cost of typically $85 a barrel. An American operator who cannot compete and goes down will not later reenter the market. Saudi Arabia can effortlessly constrict supply and drive up the price.”

E2 “The Republicans will provide tax benefits and government subsidies for the frackers and increase the national debt.”

E1 “That’s for real. If Russia and Russians can endure the very real impact of the sanctions and continue to circumvent the use of the dollar, they may end up prevailing in the ‘Cold Currency War.’ The public scoreboards provide daily clues to developments on the international battlefield.”

. . .

E2 “Now when the price of oil is down is the time to adopt a carbon premium and dividend program.”

E1 “Never happen.”

E2 “Nothing will happen until it is too late.”

E1 “Not when gas mongering SUVs are flying off the shelves.”

. . .

E2 “The PM markets for elements 79 and 47 are distorted. Now that the physical quantities of Au and Ag are so tiny in comparison to the exploding paper market, the spot price is another illusion. Sellers of physical quantities are setting prices that exceed the former ‘spot price plus markup’ formula to reflect the limited physical supply. However, no generally accepted ‘physical spot price’ has emerged. In a world of fraud, illusion and dishonesty, the ‘market price’ is not the ‘market price’ and another ‘market price’ must be concocted to provide realistic information.”

E1 “The market is unreal. However, it is hard to fix the metals market when the metals market is fixed. Information is sketchy, incomplete and possibly inaccurate. China, Russia, India, Brazil and other governments and the Chinese, Russians, Indians, Brazilians and other citizens are amassing massive amounts of physical gold. Manipulating the acquisition price of physical gold lower via machinations in the paper market facilitates the transfer of physical gold to folks who are not always happy with us.”

E2 “That may be the most counter-productive policy in recent memory. Some countries are rallying around gold to provide a counterpoise to the dollar.”

E1 “That is surreal.”

. . .

E2 “Morgans were minted from 1878 to 1904. Peace dollars from 1921 to 1935. Even among those who are not interested in the numismatic value of a coin, the premium for George T. Morgan’s creation is more than the premium for Peace dollars.”

E1 “A hint of aesthetic sensibility among the junk metal set. Morgans may have been minted again in 1921.”

E2 “One fellow said that he maintains 70 percent of his precious metals inventory in silver to serve as a medium of exchange and 30 percent in gold to serve as a store of value and secondary medium of exchange. However, the dollar is still the unit of account. Wonder what he knows.”

E1 “Metals perforce do not pay interest, yet when banks start charging interest to hold funds, metals become the non-interest burdened asset. What percentage of his assets are in metals? And why?”

. . .

E1 “The ISIS or ISIL or Islamic State or whatever is proposing to issue their own currency by minting real gold dinars and real silver dirhams.”

E2 “The IS is also in the business of selling oil on the black market at reduced prices which lowers the world price. Another factor in the analysis.”

E1 “And the scoreboard up ahead proclaims: ‘Unleaded – 3 dinars and 99 dirhams per liter; Diesel – 4 dinars and 49 dirhams per liter. Free oil check and window washing.’”

E2 “A mecca for the gold bugs.”

E1 “‘27 inch flat screens from China for 99 dinars.’”

E2 “If gold is denominated in dollars, the dollar is king. If gold is denominated in gold, then gold is king.”

E1 “Aren’t they obligated to field a football team first?”

. . .

E1 “If I couldn’t make light of it, it would get too heavy.”

. . .

Bumper stickers of the week:

He who has the dollars has made the rules; he who has the gold will make the rules.

Folks (and governments) will use Fe and Pb to acquire and protect Au and Ag.

We seek stasis, we get entropy.

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Eu-rope Is Mal-rope (May 7, 2012)

Posted in Bankruptcy, Banks and Banking System, Debt/Deficits, Entitlements, Europe, Foreign Policy on May 7, 2012 by e-commentary.org

. . .

1 “Putin is put in, Sarkozy is put out. The Dutch government is dissolved. The Greeks have had it with not having it. The Germans have had it with having to pay for others to have it. The Spanish have no realistic recovery plan to have it all or even to have it half.”

2 “The have-nots and even the haves have had it. The community described as ‘Socialist Europe’ is now moving to the right. Restrictive immigration policies are always a harbinger of hate on the horizon.”

1 “Generosity emerges when individuals meet their needs and have adequate resources to share with others. With diminishing resources and declining opportunities, Europeans with resources are protecting their piece of the crumbling pie.”

2 “After World War I, the victors imposed unworkable reparations on the Germans that were doomed to fail and set the stage for another war. After World War II, the victors implemented the workable ‘Marshal Plan’ that destined the economies to succeed and set the stage for an exceptional peace. The magnanimous approach was and is considered prudent, progressive, productive and profitable. Today, the Germans have reverted to the World War I model in a doomed effort to end the financial war raging in Europe.”

1 “After World War II, the Germans and the Japanese learned that it is easier to take by investment than by invasion, but that lesson is being lost. Today, a nation’s debt is really little more than a default deferred. The Europeans need to hit the ’ctr-alt-del’ button and build a better economy.”

2 “For some time, it has been just a matter of time.”

. . .

Bumper stickers of the week:

Eu-rope is Mal-rope . . . and on the ropes

Those who know the ropes realize that Eu-rope is on the ropes and at the end of their rope because they gave themselves too much rope and are now trying to rope in their excesses in a way that may only hang them all. They are at the bitter end and are getting bitter.

Make work not war

A nation’s debt is really little more than a default deferred

In Heaven, the mechanics are German, the police are British, the chefs are French, the lovers are Italian and the entire place is organized and run by the Swiss. In Hell, the police are German, the chefs are British, the mechanics are French, the lovers are Swiss and the entire place is organized and run by the Italians. In Purgatory, the debtors are Spanish, Portuguese, Irish, Icelandic, Italian . . . . and the entire place is disorganized and run by the ECB, IMF, FRD and GS.

The Swiss are adequate lovers . . . really

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Bringing Balance To The Balanced Budget Amendment Debate (July 18, 2011)

Posted in Balanced Budget Amendment, Congress, Debt/Deficits, Economics on July 18, 2011 by e-commentary.org

. . .

A “Why pass an amendment demanding that you pass a balanced budget when it is far easier simply to pass a balanced budget. If you want to pass a balanced budget, then pass a balanced budget.”

B “There is a simpler and more concrete solution. No balanced budget amendment bill shall be even scheduled for a subcommittee hearing until the budget is first balanced.”

C “If it can’t be done, why pass a law decreeing that it shall be done. It really is as easy as ABC.”

. . .

Bumper stickers of the week:

Which came first, the rattlesnake or the egg?

The Japanese women won (in soccer), but Japan is lost

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Our “Fiat Future” (June 13, 2011)

Posted in "Fiat ______", Banks and Banking System, Debt/Deficits, Economics, Gold Standard, Peak Land, Peak Oil, Spending on June 13, 2011 by e-commentary.org

. . .

Y “So we live in an economy driven by ‘fiat money.’ Should we use the money to buy a Fiat car? You know it is an acronym for ‘Fix It And Trade’?”

X “Our fiat currency rolls along, but it is not a convertible vehicle. I would like to fix it and trade, but we are just trading it. A ’fiat’ is an order and a directive. The United States Government orders and directs the citizens to accept ‘fiat money’ or ‘fiat currency’ or ‘fiat dollars’ for ‘for all debts public and private.’ The order and directive are backed by the ‘full faith and credit’ of the United States Government. See, no worries.”

Y “But I’m worried. The credit of the United States government on paper is non-existent. Why take its paper? Who has even ‘half faith’ in its credit?”

X “Only fools and citizens. Only you and me.”

Y “Why have faith when the empirical evidence is so clear and so clearly to the contrary?”

X “Think about it this way. I will accept the dollar if and because you will accept the dollar.”

Y “Well then I will accept the dollar if and because you will accept the dollar.”

X “That is the rationale. It has worked and it works, but it may not work. I don’t know if I want to accept the dollar.”

Y “If you want to get rid of them, I will take them off your hands.”

X “I will use them for the time being if and because you will accept them. Half of the physical dollars are in circulation outside the United States and serve as the de facto currency in some countries and regions. At the same time, the banks and financial institutions in America may have one tenth of one percent of the physical dollars necessary to cover the deposits in the banks and financial institutions. Our fractional-reserve banking system is fractured, but it has not yet fractured. A run on the banks, for rational reasons or irrational whims, would confirm what no one denies.”

Y “So is the refusal to raise the debt ceiling a rational or an irrational triggering event?”

X “An understandable reaction, but an irrational and dangerous response. In a country awash in electronic dollars, there are no real dollars and not even enough fake dollars. When the populace resorts to gold, everyone will discover that it is ‘fiat gold’ even if we are not ordered and directed by the government to accept it.”

Y “The government took gold out of the equation decades ago. And if you want to get rid of any gold, by the way, I will take it off your hands.”

X “Others have put their full faith and credit in gold. And then fail to see the irony in denominating the value of gold in . . . ‘fiat dollars.’”

Y “So the dollar is not backed by gold, but gold is backed by dollars.”

X “Seems to be. However, there is no fiat bread.”

Y “So when everyone realizes that the government ‘bread’ is stale, we will yearn for real bread.”

X “Bread is the real bread. But we can’t print it.”

. . .

Bumper stickers of the week:

Bake Bread

Know how to bake bread

He Who Has The Gold Makes The Rules

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An Earful About Earmarks (April 25, 2011)

Posted in Congress, Constitution, Debt/Deficits, Earmarks on April 25, 2011 by e-commentary.org

. . .

5 “The era of earmarks is not over.”

C “I hear that we have not heard the last. Earmarks are misunderstood. How many citizens really know what they are criticizing. Remember the typical two stages of a bill in Congress. One committee ‘authorizes’ a law that authorizes an activity or program. After the other bills in the other authorizing committees are authorized, the Appropriations Committee and its subcommittees review them and ‘appropriate’ funds when appropriate. After review, the authorized activity or program may or may not be appropriated funds.”

5 “The Interior Committee authorizes an activity or program and then the appropriate subcommittee of the Appropriations Committee appropriates money.”

C “And with more steps in the process, there are fewer spending opportunities.”

5 “An earmark is a way to bypass this settled procedure and practice. More powerful Representatives and Senators are able to slip spending provisions into bills without Congressional oversight.”

C “The oversight is the lack of oversight.”

5 “Right. The authorization/appropriation process is a way and a means to maintain internal checks and balances. Today, there are too many checks being written by the government and too little balance. The amount involved admittedly is just a drop in a deluge of deficits and debt. However, allowing earmarks reflects a lack of disciple and purpose.”

C “Earmarks are not unconstitutional. Earmarks are not illegal. Earmarks are perfectly legal. But hear me out. Earmarks are a leading cause of deficit spending.”

. . .

Bumper stickers of the week:

One man’s earmark is another man’s sage expenditure

Authorize And Appropriate; Avoid Earmark Expenditures

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Who Cares About Health Care? (Feb. 22, 2010)

Posted in Debt/Deficits, Global Climate Change, Health Care, Housing on February 22, 2010 by e-commentary.org

. . .

Z “No one. Think about it. Everyone gets free health care today. They just follow Bush’s suggestion and wander into the emergency room. An emergency room is not designed to handle the consequences of deferred preventive medicine and other ordinary medical needs, yet the e.r. is the dumping grounds for the populace. When the patients cannot pay, they file bankruptcy. Then we pay. We have inefficient and inequitable socialized and nationalized health care right now in America. The coverage is codified in Title 11, the Bankruptcy Code, rather than Title 42, covering Public Health and Social Welfare, in the United States Code.”

Y “So the real economic cost to the nation as a whole is not much more and not much less than the health care proposals.”

Z “Not when you net all the costs. Efficient health care is critical to the health of the nation, yet the public really does not care. Right now, everyone wants a job to go to during the day and a house to come home to at night. What is happening outside the house to the climate and the environment is not an immediate concern. Health care, the national Debt and other issues are secondary.”

Y “The people are still afraid and concerned, yet they are overwhelmed by the lies and the deception.”

. . .

Bumper sticker of the week:

Streamline national health insurance

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The Double Ought (00) “Decadent Decade” (January 4, 2010)

Posted in Afghanistan, Bailout/Bribe, Bernanke, Bush, China, Congress, Debt/Deficits, Economics, Federal Reserve, Foreign Policy, Greenspan, Health Care, Housing, Iraq, O'Bama, Presidency, Supreme Court on January 4, 2010 by e-commentary.org

1999: No major wars yet percolating problems in a dozen venues; budget deficit surplus of about 236 billion dollars, although Bush inherited about a 5.7 Trillion dollar National Debt; and a boiling but unstable and slowly cooling economy.

The decade that threatened to come in with a bang sauntered in with only the traditional fire works. Y2K may have been such an epic universal non-event because everyone realized that it was a real deadline that could neither be disregarded nor overlooked. It was not Y2.001K. Problems were timely addressed in a timely manner in time. That was not the attitude for the remainder of the decade.

An outwardly non-descript and largely unknown bumbling scion who had been shepherded by others for their own purposes through an uneventful life was appointed by the Supreme Court to run things. The ship of state sailed uneventfully for a time. A written invitation to impending disaster delivered to and disregarded by the White House in August, 2001 was honored in September, 2001 by a quartet of airships. The course of action was simple. Know who we are and remain faithful to who we are. Stay our course. Redouble our vigilance and redouble it again (and redouble it one more time). Too many in power and influence in the country lost their heads. Leadership was non-existent.

A perfect storm. An obscenely incompetent President, a flagitious and arrogant vice-President, a smug, bungling and petulant Secretary of War/Defense (Rumsfeld), hamstrung Secretaries of State (Powell and Rice), a mendacious Secretary of the Treasury in the second term (Paulson), a marginal Attorney General (Gonzales) and their ilk were not the Dream Team. The damage they inflicted in the decade will take decades to repair.

Bush proclaimed that WeMaD (Weapons of Mass Destruction) and almost everyone joined in the madness. No one ever made a compelling case for the invasion of Iraq. The national press (WP, NYT and so many others) yearned for war, any war, just give us a war with photo ops and film at eleven. The major television networks (NBC, CBS, ABC, Faux) were thrilled and went wild with glee. It was a time, the only time, to watch their coverage non-stop to bear witness in real time to the folly and the madness. The few dissenting voices (Warren Strobel and Jonathan Landay with Knight Ridder’s Washington Bureau, Terry Gross and guests with NPR/Fresh Air, Walter Pincus with the WP and a few dozen other courageous individuals) did not reach a wide audience. They were voices in the darkness. The Iraq quagmire is the greatest foreign policy blunder in American history.

Deficit spending and economic looting became the national pastimes. Almost everyone involved in directing and controlling the economy (Reagan, Gramm and Rubin in earlier decades with the assistance of Bush, Greenspan, Paulson, C. Cox, Geithner, Summers and others in this decade) almost without exception (Brooksley Born and a few others) were committed to undermining the American economy at every opportunity for the benefit of a few. One must concede that they succeeded handsomely. Although they are domestic economic terrorists, their activities never became the subject of the vaunted “war on terror.” No one ever made a compelling case for the bribery and bailout of Wall Street. Bernanke* remains the enigma, the outsider and the ultimate insider, who did not recognize what was obvious before and after he became Chairman in February, 2006 and disregarded the advice of his colleague Edward Gramlich.

The first African-Irish-American was elected President. There were a few things they did not tell him before he got elected that he learned quickly after he got elected. He re-nominated Bernanke* to run the Federal Reserve which may be the only option given the limited economic talent in America. His appointments to date are adequate, yet the administration is still seeking traction and direction. Health care is becoming his domestic economic quagmire. Although it is not really the job of the government to provide jobs and/or homes, the populace wants a job to go to during the day and a house to come home to at night.

About the House. And the Senate. Congress could be declared a natural disaster area. The Republicans are useless, the Democrats are not particularly useful. Forty-five percent of Americans respond to and are motivated by fear and loathing; the Republicans know and stoke their base. The Republicans may make great strides in the November elections. The party committed to destroying government may again be given that opportunity.

The nine members of the Supreme Court are more myopic and narrow-minded than just about any other Court in the history of the Republic. The Court sports two religions (with one exception), two schools (with one exception), and two (mas o menos) schools of thought (with a few exceptions), yet it has two women, too. The war at the Court and for the Court continues. O’Bama may have an impact, although the impact of the economy on O’Bama’s future will greatly impact his impact on the Supreme Court.

The profit-maximizing universities in America should be part of the solution, but they are part of the problem; they may be more accurately described as part of the process and the processing. They recruit, train and drill the next McNamaras and Rumsfelds. To their credit, they adhere to a thirty-year business plan rather than the three-month strategy pursued by other businesses.

The information made public in the National Intelligence Reports over the decade patiently and exhaustively chronicles the decline of America’s role in the world after six decades of preeminence. America has done much wrong during that time, yet America has done far, far, far more good, often with resentment and usually without thanks. On balance, everyone is better off with the United States as the dominant superpower. This is China’s century.

Now: Multiple wars, battles, skirmishes and police actions with two major foreign base camps (Iraq and Afghanistan); massive and growing deficits and about a 12.3 Trillion dollar National Debt; zero private-sector employment gain and zero economic gain for the average family over the decade; and no industry to inflate other than the federal government industrial complex.

[See the “e-ssays” dated Jan. 5, 2009 titled “The Millennium to Date”; dated October 6, 2008 titled “A Bleak Day: The Trillion Dollar Tragedy”; dated September 29, 2008 titled “Futile Efforts”; dated May 4, 2009 titled “Picking the Supreme Beings”; dated May 14, 2007 titled “Term Limits”; and dated Jan. 30, 2006 titled “Greenspan’s Legacy: Apres moi, Le Meltdown.”]

Bumper stickers of the week:

The Recession is Over.

The Recession is Over; Let the Depression Begin

Halcyon Ano Nuevo

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Tea Party Patriots? (Dec. 21, 2009)

Posted in Bailout/Bribe, Bush, Debt/Deficits, O'Bama, Race, Solstice, Tea Party, USA PATRIOT Act on December 21, 2009 by e-commentary.org

. . .

“Are the Tea Party Patriots really veiled members of the Klan (Ku Klux Klan) running around in their civvies? Is ‘Nazi’ the code word for the ‘n-word’?”

“They certainly ‘drank the Kool-Aid’ for eight years of reckless Republican (and Democratic) spending without a rally or a ruckus before they drank the tea.”

“They are a little late to the party. The Tea Party types never railed against the USA PATRIOT Act when it was parsed and passed. The Tea Party types never demonstrated against the TARP imposed by Bush and Paulson. Their anger, fright and frustration are legitimate, yet they seem at core really angry, frightened and frustrated that an African-Irish-American is in the White House.”

“There is a lot of undigested anger percolating out there. Our futures are not promising and those of the kids are even bleaker. The public senses that America in so many ways is in decline even if they can’t articulate why.”

“I don’t care if he, or she for that matter, is chartreuse, I want competence. Ronnie Reagan’s statement that ‘Deficits don’t matter’ is one of the ten greatest lies in the history of the American Republic.”

“And the line was repeated repeatedly by former President Cheney and former Vice-President Bush.”

“They made deficit spending the national sport. At least O’Bama recognizes that long-term deficits represent a threat to the financial integrity and security of the country. His spending does trouble those few of us left in America who believe in fiscal responsibility. O’Bama is making and taking a huge gamble.”

“O’Bama also represents a threat to some members of the public because of class differences and what passes for education in America.”

“The anti-intellectualism leaves me as an intellectual in the cold, although those who pass for the intellectuals in America are often charlatans and con artists. The Tea Types don’t even realize that they should be railing against their rousers. I would like to see just one of them carrying a sign that proclaims: ‘It all started under Reagan.’ When the Tea Types start carrying caricatures of McConnell and Boehner and their clan, I will pay them some heed. Until then, most of them seem to be little more than contemporary Klansmen in coveralls. However there may be some unaffiliated iconoclasts who march with them because they have no other drummer to inspire them.”

. . .

[See the “e-ssay” dated June 1, 2009 titled “The Humongous Gamble” discussing the great gamble pursued by O’Bama and the risk to the future of America, dated January 19, 2009 titled “The TARP Is A Trap,” dated Oct. 6, 2008 titled “A Bleak Day: The Trillion Dollar Tragedy,” dated Sept. 29, 2008 titled “Futile Efforts” and dated April 4, 2005 titled “USA PATRIOT Act.”]

Bumper stickers of the week:

Fiscal responsibility: Good; Racism Veiled as Fiscal Responsibility: Bad

It’s evening in America.

It’s always darkest on the Winter Solstice.

Nonetheless, there is much to celebrate in this good country

As a political compromise, Alaska was admitted as a “Democratic” state (49th) and Hawaii as a “Republican” state (50th). Alaska gave us Sarah Plain/Palin; Hawaii gave us Barack O’Bama.

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The Humongous Gamble (June 1, 2009)

Posted in Debt/Deficits, Economics, Spending on June 1, 2009 by e-commentary.org

Consider this obscenely gross and simplistic survey of recent presidents and the economy.

Reagan – pawned the future of the children. (“Deficits don’t matter.”)

Bush II – pawned the future of the grandchildren. (Encouraged deficits and the Debt to grow unchecked.)

O’Bama – pawning the future of the great grandchildren.

The economy and the budgets limped along during the Bush (“Read my lips”) I administration and grew at a promising but unsustainable and unsustained rate during the Clinton administration. O’Bama genuinely believes that he can pull off the “Great Hat Trick” and rescue the futures of three generations of children by spending federal money and stimulating economic growth. There is not enough unused productive capacity. The numbers simply do not add up no matter how you add them.

Bumper sticker of the week:

Watch Inflation Next

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