The US financial system — under the spell of its ‘printing press’ money — is a debt machine. And it runs on credit…and oil. As credit is added, the economy grows…but the debt grows faster.
Downfall
While we all know that the feds can ‘print’ money, what few realize is that the private sector has printing presses too.
Toll Roads Lead to Home (and inflation)
Last week ended much as it began…with curiosities, absurdities and stupidities.
Red in tooth and claw
Overall, an estimated 20 to 40 million people died in the Mongol conquests. And Genghis, taking advantage of the young women who were captured, has left more descendants than any other known human.
The Fog of Peace
Who cried ‘uncle?’ Like the Virgin Birth, or ‘printing press money,’ the victory over Iran is largely incomprehensible to modest minds. But so is the history of warfare and foreign policy, generally.
Down the Mountain
When the stock market closed, just four hours before this apocalypse was to begin, US capital values were about where they were when the market opened. The stock market didn’t take any of it seriously
Knock Out Punch
Our strategic objectives in the war, such as they were, have already been accomplished: We went. We saw. We kicked butt.
Night at the Museum
Everyone knows that the feds are already insolvent, with spending commitments eight times as much as their revenues. But if you can’t spend money you don’t have on war, what can you spend it on?
Shock and Aw Shucks
The pound sank into the mud of the Somme and never recovered. By the end of WWI, Britain was deeply in debt. It had to give up India in 1947. And then, in 1956, it was unable to control the Suez Canal.
Edge of Empire
The British empire came to a final, wimpy end in the Suez Crisis of 1956. ‘Allied’ with France and Israel, Britain set out to take back the canal from Egypt. The three allies attacked.
