Debt Rattle June 4 2017


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    Eugène Delacroix Les femmes d’Alger 1834   • Theresa May Suppresses Release Of Report On Who Funds Terrorism In UK (Ind.) • ‘Sensitive’ UK Terror
    [See the full post at: Debt Rattle June 4 2017]

    Ken Barrows

    Listening to yesterday’s Modern Money Basics, I think a viewer could come to two conclusions. Deficits can be infinite as long as there are needs to be met and government’s role as a currency issuer can never decrease purchasing power. Both, I think, are silly conclusions.

    I, too, see no need for mandated debt ceilings and balanced budgets. But the video (of course) didn’t wonder if a federal deficit greater than the growth in the GDP (USA FY 2016) was somehow excessive. Maybe it’s not, but that’s a long way from saying no deficit is excessive. Issuing currency shifts purchasing power. Whether up or down depends on who gets the largesse.

    The video, like most political discussion, seems to live in a world of infinite growth on a finite planet. But that’s capitalism isn’t it?


    Pepe Escobar explains very simply and clearly how the West is largely responsible for the creation of terrorism – in the Middle East and Europe. Right now, the Americans and British are preparing a new generation of terrorists – to use against Iran, Serbia, Russia and China.

    Jihad 2.0: the Making of the Next Nightmare

    “Mustn’t let the Silk Road get to Europe intact”


    Here is what Al Gore had to say on Fox New yesterday:

    “But, unfortunately, and regrettably, a lot of serious damage has been done. Greenland, for example, is losing 1 cubic kilometer of ice every single day. I went down to Miami and saw fish from the ocean swimming in the streets on a sunny day.”

    Pruitt defends decision to withdraw from Paris climate deal; Al Gore weighs in

    In reality, Greenland has lost less than 1% of its ice since 1900.

    Alarmists Gone Wild: Greenland losing 400 cubic km ice cubes per year!!!

    Furthermore, the ice in Greenland is right now piling on at a record pace

    Obviously, for every person like me who actually checks the data, there are perhaps millions who believe what Al Gore has to say.

    As regards Miami. It is no secret that building tall buildings on what was a swamp is not a very bright idea. Pumping out water from under these buildings is just a refinement of this stupidity.

    Miami Beach’s Flooding Is More Complicated Than Yelling ‘Global Warming’

    Al Gore bought a house on the sea shore. Need I say more?

    Al Gore Buys $8.9 Million Ocean-view Villa

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