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Tuesday, September 20, 2011

Running out of tricks

Tomorrow Bernanke will announce he's going to sell treasuries on the short end to buy treasuries on the long end. He calls it doing the Twist. Wow. An inverted yield curve is sure to solve everything. How on earth can the world economy fall into recession with the Fed performing such amazing feats of economic legerdemain?

And don't worry about Greece. France and Germany are giving them a firm talking to about the need to shape on up and stop spending so doggone much money all the time. Or else.... Well, just or else. And when Spain, and Portugal and Ireland and Italy hear about the stern lecture the Greeks are getting they're all sure to quake with fear and implement their own austerity measures.

Meanwhile the President is presenting his own terrific jobs program consisting of something about shovels and taxes while the Republican congress is busy promising that nothing at all will ever be done about anything as long as they're in charge.

Ever stop to wonder how all these completely broke and broken governments go on not only paying themselves trillions of dollars a year, but actually perpetually expanding?

Why yes, they're just printing the money. Printing printing printing. And why not? They own the printing press. You'd do it too if you could.

But you can't. So what can you do?

Right. Buy gold. Now.

Because soon you won't even be able to do that.

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