By MN Gordon
Simple Classifications
Let’s begin with facts. Cold hard unadorned facts. Water boils at 212 degrees Fahrenheit at standard atmospheric pressure. Squaring the circle using a compass and straightedge is impossible. The sun is a star.
The sun is not just a star, it is a benevolent star. Look, it is smiling… sort of. [PT]
Facts, of course, must not be confused with opinions, which are based upon observations. Barack Obama throws like a girl. The Federal Register is for idiots. Two slices of chocolate cake are one too many. Are these opinions right or wrong?
The answer depends on who you ask. What’s certain about opinions, however, is that like bellybuttons, everybody has one. Moreover, unlike free drugs from the government, everyone is in fact entitled to their own opinion.
Moving on from facts and opinions, the next classification we encounter is the wholly asinine. This broadly contains the absurd and ridiculous. Take most university teachers, barring natural science professors, for instance. They’re wholly asinine. The wholly asinine also extends to editors at the New York Times, Washington Post, circus hunchbacks, and the like.
Lastly, we want to mention the downright sinister. This includes sociopaths like Hillary Rodham Clinton, John McCain, nearly all of Congress, the Federal Reserve, fractional reserve banking, Washington lobbyists, a good part of Wall Street, and much, much more. Clearly, such people and professions don’t represent honest work. Rather, they epitomize less than honest work that’s performed by less than honest people.
Sinister mafia boss from Arkansas, possibly checking classified material on private phone… [PT]
Photo credit: AP
Nixon Casts the Die
From this point forward, the weight of today’s reflection falls squarely on the shady shoulders of the downright sinister. But within this category, we dig deeper and uncover a certain subcategory: grand larceny. Namely, we want to better understand the incessant pilfering going on about us. Where to begin?
When Tricky Dick Nixon closed the gold window in 1971, severing the last tether holding the money supply in orbit, the national debt was under $400 billion. Today it’s over $20 trillion. What’s more, it’s now common for a single year’s budget deficit to top $1 trillion.
But it’s not just government debt that has drifted into deep space due to the Federal Reserve’s ability to issue limitless credit. Corporate and consumer debt has also drifted out of orbit. Since 1971, nonfinancial corporate debt has increased over 3,200 percent. And consumer debt is now at a record high of $12.8 trillion.
Total US credit market debt – ever since Nixon’s gold default and the adoption of a completely unanchored fiat money system, debt has grown at an explosive trajectory. At the same time, economic output growth has slowed ever more, decade after decade. This is a sign that the massive growth in the supply of money and credit has fostered malinvestment and capital consumption on a grand scale. [PT] – click to enlarge.
However, while public and private debt has radically increased, and the money supply has radically inflated, economic …read more
Source:: Acting Man
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