MOGAMBO GURU: "I Am Really, Really Getting Scared Here"

[Tace]

Richard Daughty, the angriest guy in economics -- World News Trust

I am really, really getting scared here. This week, I don't know what scares me most; the Federal Reserve increasing Total Fed Credit (which is the legendary "money from thin air" that banks use to make credit, which gets borrowed, which turns it into money, which increases the money supply, which makes prices go up) by another $5.9 billion, or that the National Debt has suddenly, inexplicably, declined by a lot. Weird! In fact, the National Debt has literally collapsed $58 billion in less than two weeks! Unprecedented!

I have decided that I don't care which one scares me the most, as either of them is enough to give me the Screaming Mogambo Willies (SMW), and now all I care about is getting my fat, frantic fanny out to the Mogambo Bunker Of Safety (MBOS) in hopes of saving myself. And yes, it is too bad about the wife and kids, but they can't say I never warned them about dawdling. Locked safely inside, I have time to ponder that the Fed increasing Total Fed Credit is easily explainable; the Federal Reserve wants to create more money, which drives down interest rates. That's all those buttheads ever do.

But it is the drop in the National Debt, on the other hand, that has turned my eyes into mere slits of suspicion and panic. My brain swirls as I ponder the Mogambo Question Of The Day (MQOTD), "If debt is going down while spending is going up, then where in the hell is all of the money coming from?" This is too, too, too, too weird for me!

This is about as weird as this week's installment of One Interesting Mogambo Statistic (OIMS), which is that savings and other deposits at the banks are on track to register what looks to be their biggest (by far) one-month gain in history; up $125 billion in the last three weeks! Wowee! One huge whopping percent of total United States Gross Domestic Product has appeared, like magic, as savings and "other deposits" in the banks! In one month! Like I said, weird!

more

http://worldnewstrust.org/modules/AMS/article.php?storyid=3317

[Mnemosyne]

1. kick

[400Years]

2. that guy is always scared

[Demeter]

3. Hell, I've Been Scared Since Enron

That the Captains of Industry could engage in such wholesale robbery, get away with billions, and not go to jail, and then their colleagues could go AND DO IT AGAIN, and the government permits, nay, encourages such criminality, and that it still goes on today, would keep me up nights if I had anything left to lose.

And you know what people do who have nothing left to lose, don't you? Get enough of them together, and you have history--the violent kind. Like Iraq, only closer to home.

[katty]

4. been really,really worried since Supremes Appointed bush

[unblock]

5. national debt down in the 2 weeks after taxes are due? SHOCKING!

this guy says some really good things.
then he also says some really wrong things.
then he also says some just plain weird things.

after a while, it gets kinda hard to sort out which is which....

[girl gone mad]

6. I know I contributed..

a pretty significant amount to the debt about 10 days ago.

[dave123williams]

7. Enron was this admin's #1 contributor - is it really that weird?