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Badtux the Snarky PenguinIn 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, 2006That ole' Vietnam Shuffle: Stagflation is backOne 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 PMComments: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 |
About Me
I am a black and white and yellow multicolored penguin making his way as best he can in a world of monochromic monkeys. ArchivesApril 2004 / December 2004 / January 2005 / February 2005 / March 2005 / April 2005 / May 2005 / June 2005 / July 2005 / August 2005 / September 2005 / October 2005 / November 2005 / December 2005 / January 2006 / February 2006 / March 2006 / April 2006 / May 2006 / June 2006 / July 2006 / August 2006 / September 2006 / October 2006 / November 2006 / December 2006 / January 2007 / February 2007 / March 2007 / April 2007 / May 2007 / June 2007 / July 2007 / August 2007 /
Cost of the War in Iraq
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"Keep fighting for freedom and justice, beloveds, but don't forget to have fun doin' it. Lord, let your laughter ring forth. Be outrageous, ridicule the fraidy-cats, rejoice in all the oddities that freedom can produce." -- Molly Ivins, 1944-2007
"The penalty good men pay for indifference to public affairs is to be ruled by evil men."
-- Plato
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