Friday, January 4, 2013

Dr. Bernake: or How I stopped worrying and learned to love hyperinflation

I saw a comment on Captain Capitalism's blog - it was so good, I took it as the title of the post.

Some economists are suggesting that Geithner mint several $1 Trillion platinum coins in order to bypass the debt ceiling debate.  I noted in a brief discussion with the Captain that it would take more than 20,000 metric tons of platinum to cover the value of a single trillion dollar coin, (you can do the math or trust me).  Unfortunately for us that is about four times the total platinum that has been recovered on this planet.  Somehow they still wonder what the effect on inflation will be.

That's easy to find out, though.  Just ask anyone in Zimbabwe.

Today I discovered that a group of not-so-bright people have gotten together and petitioned the White House to subvert the Constitution. Well this may be one petition Obama actually takes seriously.  You guys remember SNL's A Special Message From the President?
Wouldn't you like to own a $4,000 suit, and smoke a $75 cigar, drive a $600,000 car? I know I would!

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