I must say: my first impression…is hell yes.

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Hyperinflation: How it will unfold Here

A really interesting read today on how hyperinflation will play out here in the US, courtesy of ‘Tyler Durden’, who actually lived through the hyperinflation that the Marxist Salvador Allende brought crashing down upon his native Chile:

Very quickly, a black market in goods and staples arose. At first, these black markets accepted escudos. But with each passing month, more and more escudos were printed into circulation by the Allende government, until by late ’72, black marketeers were no longer accepting escudos. Their mantra became, “Sólo dólares”: Only dollars.

Hyperinflation had arrived in Chile.

(Most Chileans, myself included, find ourselves both amused and irritated, whenever Americans self-righteously claim that Nixon ruined Chile’s economy, and thereby derailed Allende’s “Socialist dream”. Yes, according to Kissinger’s memoirs, Nixon did in fact tell the CIA that he wanted Chile’s economy to “scream”—but Allende did such a bang-up job of fucking up Chile’s economy all on his own that, by the time Richard Helms got around to implementing his pissant little plots against the Chilean economy, there was not much left to ruin.)

One of the effects of Chile’s hyperinflation was the collapse in asset prices.

This would seem counterintuitive. After all, if the prices of consumer goods and basic staples are rising in a hyperinflationary environment, then asset prices should rise as well—right? Equities should rise in price—since more money is chasing after the same number of stock. Real estate prices should rise also—and for the same reason. Right?

Actually, wrong—and for a simple reason: Once basic necessities are unmet, and remain unmet for a sustained period of time, any asset will be willingly and instantly sacrificed, in order to meet that basic need.

To put it in simple terms: If you were dying of thirst in the middle of the desert, would you give up your family heirloom diamonds, in exchange for a gallon of water? The answer is obvious—yes. You would sacrifice anything and everyting—instantly—in order to meet your basic needs, or those of your family.

So as the situation in Chile deteriorated in ’72 and into ’73, the stock market collapsed, the housing market collapsed—everything collapsed, as people either cashed out of their assets in order to buy basic goods and staples on the black market, or cashed out so as to leave the country altogether. No asset class was safe, from this sell-off—it was across-the-board, and total.

Now let’s return to the possibility of hyperinflation in the United States …

Obviously, you are going to want to read the whole thing, because Durden offers some pretty sound advice about how Americans can weather the coming storm; and do not kid yourself: it is not a matter of “if”, it is a matter of when.

Just consider the uncomfortable timing of this article; it comes out on the very day that Fed Chairman Ben Bernanke announced that the Fed will continue to buy up T-Bills in order to keep the Treasuries attractive to investors–in other words to make an already-inflated T-Bills bubble even larger; there is no way that a distorted, inflated view of the worth of our Treasuries can last–eventually the myth will collapse, the bubble will pop, and bingo: welcome to the Weimar Republic, courtesy of the Obama Administration.  Someone will call our bluff, and when that happens it would pay to have some commodities handy, i.e. Gold, Silver and Oil.

This is a “must read” for anyone who cares about protecting their assets.

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Obama EPA wants to ban lead bullets as “pollutant”; UPDATE EPA Backs Down!

John McCormack of the Weekly Standard documents the very latest, outrageously audacious, back-door power grab attempt by the Obama Presidency Dictatorship:

Several environmentalist groups led by the Center for Biological Diversity (CBD) are petitioning the EPA to ban lead bullets and shot (as well as lead sinkers for fishing) under the Toxic Substances Control Act (TSCA). Although EPA is barred by statute from controlling ammunition, CBD is seeking to work farther back along the manufacturing chain and have EPA ban the use of lead in bullets and shot because non-lead alternatives are available. But here’s the catch: the alternatives to lead bullets are more expensive. A ban on the sale of lead ammunition would force hunters and sport shooters to buy non-lead ammunition that is often double the cost of traditional lead ammunition.  A box of deer hunting bullets in a popular caliber could be upwards of $55.

Although the EPA could have dismissed the request due to a lack of jurisdiction, it is obliging CBD. The EPA has asked for public comment on banning lead in ammunition, and an EPA notice was published seeking public comment that closes on October 31. Jackson would then make a decision to accept or reject the petition on November 1. You might say that even considering enacting what is effectively a new tax on hunters and gun owners–seemingly the only non-liberal group the Obama administration hasn’t yet intentionally provoked–is less-than-perfect timing for the already beleagured Democrats as the midterm elections approach.

The National Shooting Sports Foundation (NSSF), a trade association for the firearm and ammunition industry, has hit back against the petition sending Jackson a letter documenting why EPA has no jurisdiction and outlining the damage that banning lead ammunition would do to U.S. industry and jobs, conservation, and law enforcement. The NSSF estimates that more than 90 percent of hunters and sport shooters use traditional lead ammunition. If all hunters were forced to buy non-lead bullets that are made out of metals like tungsten, bismuth, and copper alloys, demand could easily begin to outstrip the supply and prices would go even higher.

The EPA?? Bullets–even lead ones–as Pollution???”  Are you kidding me?  Guess I better get to the range and fire off all my lead practice rounds while I still can.  There is more “pollution” coming out of Barack’s mouth every day than there is coming from lead bullets.  Again, this is a man who is willing to go to any lengths to circumvent the legislative process and impose his will on a public. 

Q: is Obama trying to guarantee a Republican House majority so large that it could override any of his vetoes?  Because if he keeps up this underhanded extra-constitutional abuse of power, we might actually see a miracle in November. 

Q2:  If bullets are “pollution”, is trying to make the United States a dictatorship a “high crime or misdemeanor”?  Would lying on a daily basis to the electorate a qualify?? 

November could not come too soon for me.

(Hey, it’s Friday: a man can dream can’t he?)

UPDATE: “We really didn’t mean it….”   Yeah right…  

This turn of events is quite strange.

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Even when he’s off base, it is hard NOT to love this guy…

Now granted, I am not necessarily thrilled that Republican rising star Governor Chris Christie (NJ) filed an application to take Federal money from the Department of Education–which would have had the effect of making New Jersey more dependent on the Federal Government in choosing curriculum and “guidelines” for what “should” be taught (Das Kapital, maybe?).

It also sends a mixed message to the states and citizens who are determined that ridding ourselves of these huge redundant bureaucracies is the ONLY way we will ever get to full solvency and to dig ourselves out of this enormous black hole of debt we’ve been tricked into.

The Department of Education has only been around since the Jimmy Carter Administration (1979).  How in the world did we ever manage to get educated without it?  Albert Einstein didn’t have the DOE?  Lincoln didn’t have the DOE?  Shocking.   It is a fact that the average student aptitude on the critical skills required to function successfully in a complex world was MUCH higher before the DOE.

Therefore–on this issue–yes, I am disappointed that Christie has seemingly distanced himself from the sound Federalist principles and budgetary discernment which got him elected in the bluest of blue states.  I see it as a strategic error…

But with that said, every time Chris Christie opens his mouth it is so refreshing and so unlike most politicians that it is really, really difficult not to see him rising to even greater heights someday:

I would love to see someone like Christie get into the 2012 Presidential Derby and to finish off the backstabbing aw shucks –Mike Huckabee–once and for all.

I want to see Gingrich, Christie, Ryan and possibly Jindal as the front runners;  hell anybody except McCain, Huckabee or any other RINO… Just because he tried to get federal dollars for his State doesn’t make him a pariah–he just needs a little more schooling as to how unproductive and wasteful the Federal DOE is.

Meanwhile, the ability Christie has to be able to speak so brilliantly to an ad lib question, even concerning a subject you don’t agree with him on–my friends that is pure gold.  We could use a guy like that in higher office.

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Texas says “NO” to New (Illegal) EPA Regulations

In today’s Washington Times, Peggy Venable (herself a citizen of the Great State) demonstrates what happens when the Dictator-In-His-Own-Mind Barack Obama tries to “mess with Texas”:

The state’s slogan is “Don’t mess with Texas.” But the federal Environmental Protection Agency (EPA) is doing just that, and at stake is whether the Obama administration can impose its global-warming agenda without a vote of Congress.

President Obama’s EPA is already well down the path to regulating greenhouse gases under the Clean Air Act, something the act was not designed to do. It has a problem, however, because shoehorning greenhouse gases into that 40-year-old law would force churches, schools, warehouses, commercial kitchens and other sources to obtain costly and time-consuming permits. It would grind the economy to a halt, and the likely backlash would doom the whole scheme.

The EPA, determined to move forward anyway, is attempting to rewrite the Clean Air Act administratively via a “tailoring rule,” which would reduce the number of regulated sources. The problem with that approach? It’s illegal. The EPA has no authority to rewrite the law. To pull it off, the EPA needs every state with a State Implementation Plan to rewrite all of its statutory thresholds as well.

Texas Attorney General Greg Abbott and Texas Commission on Environmental Quality Chairman Bryan W. Shaw saw the tailoring rule for what it really is: a massive power grab and centralization of authority. They are fighting back, writing to the EPA:

“In order to deter challenges to your plan for centralized control of industrial development through the issuance of permits for greenhouse gases, you have called upon each state to declare its allegiance to the Environmental Protection Agency’s recently enacted greenhouse gas regulations – regulations that are plainly contrary to U.S. laws. … To encourage acquiescence with your unsupported findings you threaten to usurp state enforcement authority and to federalize the permitting program of any state that fails to pledge their fealty to the Environmental Protection Agency. On behalf of the State of Texas, we write to inform you that Texas has neither the authority nor the intention of interpreting, ignoring or amending its laws in order to compel the permitting of greenhouse gas emissions.”

You will want to read the whole thing.

This makes me proud to be a citizen of the Republic (of Texas); and hopeful that very soon a whole lot of people in Washington DC learn the hard way that all Americans want to be citizens of a Republic too–and not a tyrannical dictatorship. 

Stick to your guns, boys!

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WE are paying for THIS GUY to RAISE MONEY???

Cartoon by Michael Ramirez

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Hey, I know what Obama needs: A SIXTH Vacation!

ELEVEN DAYS of “fun in the sun” (golf?) on Martha’s Vineyard for the “Man of the People”.  I guess that means the First Family is symbolically taking all the People’s vacations FOR them (sort of parallel to Jesus taking on all the people’s sins, get it?… he’s doing it so you don’t have to; you can keep looking for work!). And they are taking these vacations on your dime of course (the extra security costs for these trips is huge).   Regardless, I am sure that the 17 percent of real unemployed Americans feel with great unanimity that the Obamas desperately need to embark on their sixth vacation of the year ; it is really hard work “creating” all those jobs

Let them eat cake, indeed. (Q: Has Michelle returned from her “State Visit” to Spain yet? hint: you are going to want to follow that last link..)

I truly am open jawed at this.  I shouldn’t be; it’s not like the most tone-deaf President in the Eleven Dimensional Universal Space-time Continuum doesn’t stun me on a daily basis.  But still…

Seriously, this guy needs to start writing Travel Guides for a living.  Maybe we can even help him out by giving him a lot more spare time in a couple of years for all this traveling…  I say let’s go for it!

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Breaking: 500K Jobs Lost last month=”Surprise” (of course…)

As with every other monthly report of jobless claims revised downwards over the last two years–each time after initial White House numbers given to the State Media were much more “optimistic” the Obama Propaganda Ministry Mainstream Media is once again “shocked, shocked” to learn that this month’s actual numbers were much worse than the “rosier scenario…” that was initially spoon fed reported by the Obama Ministry Press. (This has happened, what, 17 out of the last 19 months??  Pure Coincidence.)

By far the most shocking aspect of this pattern is that the dolts in big media seem to be going to the same well of disinformation and expecting a different result each month (or else they are just content to be “wrong for the cause”).  I seem to recall some famous person once attributed the tendency to “expect” a different result by repeating the same thing over and over to be “the definition of insanity.”  And yet the media uses words like “unexpected” every single time–does that not seem to suggest that they “expect” these clowns to finally give them accurate numbers the first time?  At what point is that “expectation” either Insanity or pure propaganda?  You be the judge.

It certainly would be insanity to expect State Media to actually use words like “once again, the Administration got it wrong…” or “the Obama Administration is sticking to its usual bait and switch pattern of misreporting economic results…”, etc.  I have no doubt that President Bush would have been subjected to this level of sniping were he dumb enough to have done this every month of his Presidency. Yet–strange as it may seem–the MSM-ers keep using words like “surprise” and “unexpected” EVERY time it happens.

Humor me, do an experiment: pay attention to one (or more) reports of this news in: the NYT, Washington Post, NBC, CBS, CNN, MSNBC, NPR, Reuters, AP, AFP–any of “the usual suspects”.  Note each case the words “unexpected”, “surprise”, etc.  attributed to this story, most of the time in the headline or very first broadcast sentence reported.  I would be very interested if anyone on the Web could provide me one legitimate story from ANY of the above sources which did not use language that the latest downward revision was “unexpected” (or some other synonym). 

For me this has become akin to squeaking chalk on a blackboard–every month!

Let me just say this: I expect this to happen every month.  I would wager on it in Vegas if they had such a bet.  And twice a year or so, when the numbers actually stay the same or even have slightly more positive results, we get: “Signs of Recovery!”, “Great economic news today…”, etc.  Whatever.

My friends, they are doing their damndest to lead you around by your ear, like some ticked off mother at her child in a grocery store.

The good news for this month: Obama only added half a million unnemployment claims last month to his rapidly growing deficit of 12 million jobs .  Thus, The One only has to “create” 20 million or so jobs in order to “make up for” the net positive 8 million jobs he promised that last year’s stimulus would create. (and do not forget: these are just the people filing claims–jobless independent contractors or the self-employed aren’t even included in these stats because they cannot collect unemployment…)

But never fear: just “trust” The One. After all, we Republicans are “the party of no”, right?  We are in excellent economic hands.  (Now that is insanity).

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Women of the World Unite! Obamacare Nixes top Breast Cancer drug—UPDATED

It turns out that all that “death panel” talk was spot on; yesterday, from the UK Telegraph of all places–funny how the American media was “unexpectedly” MIA on this story–we learn that the world’s top selling Cancer drug (Avastin) has been removed from the FDA’s “approved treatment” list for Breast Cancer, for which it has been highly effective.

What this all means is that–unless the Obamacare Abomination is repealed, this life-saving medication will soon no longer be available to treat one of the leading causes of death in women. I am sure that the $8000 per month cost of the medication had nothing whatsoever to do with this decision by your government’s “compassionate” bureaucrats. Because after all, some pencil-pusher in DC cares just as much as your personal physician about your health and well-being….right???

Do you think that this piece of information just might have been relevant for the public to have known about before the neo-Stalinists rammed this monstrosity down the people’s collective throats–AGAINST their overwhelming will?

If anyone is qualified to write about the evils and hypocrisy of Socialized Medicine, it is the Brits, who have lived under the draconian NHS since 1946. Too bad our own State media prefers for the most part to look the other way.

UPDATE: Well, well… The Washington Post picks up the story (via Ed Morrissey).

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The Dominion of Liars

Vintage…and I do mean vintage Dr. Zero.   I think a Whittle/Zero ticket would be unstoppable:

Even some of President Obama’s supporters are beginning to grumble about what a terrible liar he is.  He lies incessantly, often with a clumsy “as I have always said” introduction that seems positively delusional in the Google era.  He seems determined to set a new record for broken campaign promises, against stiff competition from politicians of both parties.  Veracity is a sliding scale for politicians, but Obama’s entire government tips that scale onto its side.

Broken promises are a fact of political life.  There are relatively honorable reasons for some of them: a politician might change his mind because of new information, or find himself forced to compromise an unattainable goal.  Deals and compromises are the meat and drink set at every political table.  It’s not always bad when they change their minds.  America is fortunate that Obama abandoned some of his most foolish promises to the Angry Left after his first national security briefings.

Even with the above qualifications, this is an exceptionally dishonest Presidency.  If the public desires greater honesty, it must ensure the next chief executive presides over a dramatically smaller government.  A large State will always degenerate into a dominion of liars.

Keep reading–this guy’s a star!

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