Badtux the Snarky Penguin

In a time of chimpanzees, I was a penguin.

Religious fundamentalists are motivated by the sneaking suspicion that someone, somewhere, is having fun -- and that this must be stopped.

Friday, July 28, 2006

That ole' Vietnam Shuffle: Stagflation is back

One way that LBJ and Nixon paid for their wars in Vietnam was basically by running the country deep into debt (in 1967, the military took up 15% of the national income, a large percentage of which was paid for via debt), then printing money to devaluate the debt. The result was "stagflation" -- increases in prices as the money became less valuable due to an increase in the money without any corresponding increases in economic output. Indeed, since inflation also tends to devalue the money that would have gone into investment, it tends to cause a stagnation of economic output.

The Busheviks have had the printing presses turned on for some time now to handle the fact that they're running the country outrageously into debt with their borrow-and-spend invade-everybody-and-let-our-children-pay policies, but nobody's noticed because during the same period, the dollar was the de-facto currency for most of the world and the world's total economic output was also growing. But it appears that this little bit of good news is over: stagflation is back.

I swear, Iraq is just like Vietnam, except without the cool hippy clothes...

-- Badtux the "History repeats itself" Penguin

Posted by: BadTux / 7/28/2006 04:23:00 PM  


cool hippy clothes...

Check out the thrift shops aka 'retro boutiques'. Most of the hippies wouldn't be caught dead in 'em nowadays, except for some who are still wearing 'em.
# posted by Gordon : 29/7/06 10:57 AM  

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I am a black and white and yellow multicolored penguin making his way as best he can in a world of monochromic monkeys.

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