To show you that it is actually true that
the Russians executed all their intellectuals in
the Russian Revolution in 1917, and low-IQ fascist
morons were/are running the place by default (as
opposed to the United States, where idiots are
actually elected to government offices, with Ron
Paul pretty much being the sole exception), from
Bloomberg we learn that Russian Prime Minister
Viktor Zubkov told the Duma that
"Higher-than-anticipated inflation this year made
it necessary to budget extra funds for salaries.
The Russian government will submit amendments to
the federal budget to keep its promise of boosting
wages." Hahaha!
And, even funnier … Whose
wages will be increased? Mr Zubkov said he wanted
to "increase the wages of government employees
and
military personnel". Hahaha! The people who are a
deadweight loss to the economy are getting higher
wages, so that they can increase their spending
and increase the prices of goods and services for
everybody! Hahaha! Idiots!
Apparently,
Comrade Zubkov is unaware of the fact that
increasing wages, especially government employee
wages, especially when there are lots of
government employees, is a cause of inflation in
consumer prices. In fact, it is famous as part of
the "wage-price spiral", which you would have
thought he would have at least heard of since he
is such an "expert" on wages.
And if this
Russian doofus thinks that raising money wages
will translate into higher, real
(inflation-adjusted) income, then he is as stupid
as the rest of the idiots running the world. In
fact, Jim Willie of the Hat Trick Letter says:
"Since 2003, the average price adjusted wage in
the Untied States [sic] has fallen by 4% to 5%,
depending upon men or women. If one properly
adjusts wages for inflation, the fall is more like
25% in real wage decay!!!"
Note with alarm
the three exclamation points he uses! Note with
alarm the significance of a 25% decrease in real,
inflation-adjusted wages! Now you know why three
exclamation points seems to be actually
restrained!
Well, this could help explain
why Mike Larson of MoneyandMarkets.com says: "An
alarming 5.6% of the nation's homeowners have
fallen behind on their mortgage payments - up from
roughly 4.7% a year earlier and the most since
1986. The percentage of homes in any stage of
foreclosure has jumped to 1.7%, the highest since
the Mortgage Bankers Association began tracking it
in 1972."
And S&P/Case-Shiller says
that the price of an American home lost 6.1% in
market value when measured from a year ago. The
Census Bureau reports that the price of new homes
is down 13% in October, which is the biggest fall
in 37 years! Yikes!
But while houses are
going down, everything else is rising in price,
and people are going to be agitating for higher
incomes, which will cause more wage-price spiral
inflation.
And in a similar vein, and for
a real nice piece of Highly Ironic Crap (HIC),
nothing tops John Roberts, who is the Chief
Justice of the Supreme Court. As a little
background for the benefit of those who will later
be asked, "What in the hell made that Damned
Mogambo Idiot (DMI) go crazy like that?", the
answer is that the Supreme Court in (as I recall)
1934 said that money did NOT have to be gold and
silver, as literally required by the constitution,
and that Supreme Court infamously said that the
damnable FDR and his federal government could
impose a paper, intrinsically worthless, fiat
money on the country, despite what the
constitution says!
And every damned,
stinking Supreme Court since then has refused to
overturn that despicable, traitorous action,
including the despicable traitorous trash that is
currently sitting on the Supreme Court.
And the result is exactly the result that
the Founding Fathers wanted to prevent at all
costs; inflation in consumer prices that always
follows an inflation in the money supply when you
let the government create as much money as it
wants!
The beauty of a gold-as-money
economic system is that inflation in prices is all
but impossible under a gold standard under normal
conditions with a restrained banking system, and
lamentably (and disastrously), ruinous inflation
is inevitable under a fiat currency standard.
So, with the decades-long increases in the
money supply now producing terrifying increases in
prices (due to the fall in the dollar's purchasing
power, thanks to the Federal Reserve creating so
much excess money and credit), here comes this
John Roberts lowlife in the news, crying out
piteously to Congress to please, please, please
raise the salaries of federal judges, not
mentioning that these other federal judges are
also inherently complicit in this unconstitutional
fiat currency scam.
So, my heart is
bleeding that the lowest paid federal judge is
"only" making US$165,200 a year, which Mr Roberts
thinks is insufficient anymore, probably for the
same reason that everybody else has for being
dissatisfied with their salaries, too; prices of
things are up so high!
The salary of
Supreme Court members, in case you were wondering,
is $203,000, and Roberts himself makes $212,000.
More than a million bucks every five years.
I probably don't need to remind you, but I
will anyway, that these salaries are almost 500%
more than the average HOUSEHOLD income!
And all of this coincides with the release
of the annual report on hunger and homelessness
from the US Conference of Mayors. Recently
released was its 23-city Hunger and Homelessness
Survey, which shows a dramatic increase in pleas
for food and assistance.
InformationClearingHouse.com posted an article
that said that the "median increase in requests
for food was 10%". In Detroit, "emergency food
requests shot up 35% over the 12-month period
ending in October".
In short, if there is
one group of ignorant, worthless, clueless,
preening weenies who do NOT deserve more money, it
is federal judges, who are the guilty bastards who
have allowed this inflation in prices that is
causing so much suffering by being traitors to the
constitution and its requirement that money be
only of gold and silver, literally ripping that
requirement out of the constitution, even though
they alone had the power to force the government
and the Federal Reserve to adhere to what the
constitution literally requires!
But they
don't! So screw 'em! Screw 'em all!
I
involuntarily spit in disgust, and now there is
spit all over my computer screen. Disgusting. I
gotta go, as I am too angry and disgusted to work.
Richard Daughty is general
partner and COO for Smith Consultant Group,
serving the financial and medical communities, and
the editor ofThe Mogambo Guru economic
newsletter - an avocational exercise to heap
disrespect on those who desperately deserve
it.
Republished with permission from
The Daily Reckoning.
Copyright 2007, The Daily
Reckoning.
Head
Office: Unit B, 16/F, Li Dong Building, No. 9 Li Yuen Street East,
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