I got a real kick out of The Week Ahead column in the Wall Street Journal on
Monday, as Sudeep Reddy starts out saying, "Inflation is too high because of
soaring global commodity prices." Hahaha!
Apparently this doofus does not know that inflation in prices comes AFTER
inflation in the money supply, and so while "inflation is too high", it is NOT
because of soaring global commodity prices: It is because the staggering
increases in global money supply have created so damned much money that all
that dough has to go somewhere, and it is going into the marketplace to bid up
the prices of things, like commodities, creating the higher prices!
But stupidity about inflation is so rampant that I actually tried this
fascinating philosophy that very day as I was driving along in my car. I had
the radio blaring and the "pedal to the metal" as I happily raced along,
passing other cars with a big "whoosh!" and honking at the pretty girls hoping
that they would say, "Oh, you are so handsome! Take me for a ride and I will
let you do whatever you want, over and over again, until you are exhausted!"
After a while I was pretty grumpy because none of the girls wanted to go for a
ride and most of them threatened to call the police if I did not stop bothering
them and honking the horn at them, which was prophetic in its own way because
the police soon pulled me over.
Anyway, the thought of being pulled over by the police would normally have me
in a panic, but this time I was ready! So as I pulled over to the side of the
road, I smiled smugly to myself as the grim-faced cop came sauntering up to my
car, whereupon he started predictably yammering about giving me a ticket for
speeding.
Coolly, and with a sneer on my face, I told him that it wasn't my fault! I
explained that, yes, I had my foot on the accelerator, but the car went fast
all by itself! In fact, the more I stepped on the accelerator, the faster the
car went! It's obviously one of the mysteries of the universe!
He just kept calmly writing out the citation in that damned little pad of his,
and I kept explaining how this is the exact same scenario that Ben Bernanke,
chairman of the Federal Reserve and Sudeep Reddy, ace reporter for the Wall
Street Journal, keep yammering about! They say that roaring inflation in
prices, like the roaring inflation in my vehicle's speed, happens all by
itself, and if he wanted to hand out tickets for mysteries of the cosmos like
this, then why doesn't he get his fat, stupid cop butt back into his stupid
little cop car and arrest Ben Bernanke, Alan Greenspan and Sudeep Reddy?
Of course, I naturally figured that with these kinds of references, he would
soon see the powerful validity of my argument about how I was right that the
speed of my car was not my fault, and send me merrily on my way, again happily
speeding, the radio blaring and honking at the pretty girls. But he didn't. He
started giving me a hard time! The bastard!
Then I decided to play my trump card, and told him that I can't be given a
traffic citation because I had already given myself a pardon for any crimes I
may have committed, including traffic infractions, just like President George W
Bush and Vice President Dick Cheney have given themselves a pardon-in-advance
against being charged with war crimes of which they are obviously guilty.
My argument is simple: if these two despicable creeps could pass legislation
that trumps international laws and conventions to which we are signatory
members, then surely I can be above the law, too! It's just a matter of
creating the right pieces of paper!
It didn't work. He knew I was an idiot. And I know a couple of other idiots,
but they didn't get tickets for speeding. See the kind of discriminatory crap I
have to put up with every damned day of my life it seems?
Richard Daughty is general partner and COO for Smith Consultant Group,
serving the financial and medical communities, and the editor of The Mogambo
Guru economic newsletter - an avocational exercise to heap disrespect on those
who desperately deserve it.
(Republished with permission from
The Daily Reckoning. Copyright 2008, The Daily Reckoning.)
Head
Office: Unit B, 16/F, Li Dong Building, No. 9 Li Yuen Street East,
Central, Hong Kong Thailand Bureau:
11/13 Petchkasem Road, Hua Hin, Prachuab Kirikhan, Thailand 77110
