Bollettino
LI wrote a little post a while back in which we claimed that the great deflation scare was being used to promote the traditional policy of an American government that does not want to pay for its wars -- and its tax cuts. This policy amounts to stoking inflation. Along with the falling dollar, we claimed that the Bush-ites, with Alan Greenspan's compliance, had unleashed the monster -- and that we are going to feel that monster in the year ahead.
The latest figures on inflation seem to bear us out. The figures are skewed by rising house prices -- but the inflationary bubble is headed towards middle class and working class America, and it is coming at a time of high unemployment -- which equals stagflation. When it arrives, we do wonder what Greenspan, who has given up thinking long range in order to serve his master, will come up with, by way of excuse.
This, we think, is the wave of the future -- or the wave of back to the future. The Great Giveaway of the Bush years, like the Great Society of the Johnson years, is going to be on our back for the next decade.
“I’m so bored. I hate my life.” - Britney Spears
Das Langweilige ist interessant geworden, weil das Interessante angefangen hat langweilig zu werden. – Thomas Mann
"Never for money/always for love" - The Talking Heads
Tuesday, June 17, 2003
Subscribe to:
Post Comments (Atom)
Trump's Gleichschaltung
The NYT gave us a splash of its usual ideology-washing prose yesterday regarding the resignation of the UVA president, which came about as...
-
You can skip this boring part ... LI has not been able to keep up with Chabert in her multi-entry assault on Derrida. As in a proper duel, t...
-
LI feels like a little note on politics is called for. The comments thread following the dialectics of diddling post made me realize that, ...
-
Ladies and Gentlemen... the moment you have all been waiting for! An adventure beyond your wildest dreams! An adrenaline rush from start to...
No comments:
Post a Comment