by Andy Hoffman, MilesFranklin.com:
I’m writing on a plane with no internet resources, so this will be a “pure” article. I wish it were about a more pleasant topic, but I am mandated to speak of REALITY; and sadly, global economic reality is as dismal as at any time in lives, with ZERO chance of improving until the root cause – FIAT MONEY – is destroyed. And FYI, I was just informed drinks are NO LONGER FREE on Frontier Airlines! Yes, for the first time EVER, I have been told my formerly complimentary drink now costs $1.99. Not $2.00, mind you, but $1.99. So for those that still believe inflation is NOT a problem, I suggest you re-evaluate the costs structure of your own life.
Last November, I wrote of the impending breach of the U.S. “debt ceiling”; which at the time was $16.4 trillion. It has been $14.2 trillion until it was raised in August 2011, pending matching spending cuts that never occurred. A bipartisan “Super Committee” vehemently promised such cuts; but in the end, didn’t bring a single cent to the table.
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