Prosperous Country Homes are up in this prosperous country
Where the cash is green and inflation's "petty"
Oh, so glad we can own gold
Land is up in this prosperous country
Where the cash is green and inflation's "petty"
Own some gold, oh, so glad we can own gold
Just the dollar fallin' on Wall Street
The credit risks just can't be beat
We're the charity case, debt buys somethin' big to heat
We'll pay you at another time
We plan to borrow our last dime
Hyperinflation's news someday?
They gotta keep printin' to postpone the endgame
It's Greenspan's gamble and it is his game
A monetary capital crime
"Everything's going just fine."
Stocks are up in this prosperous country
Where the cash is green and inflation's "petty"
Oh, so glad we can own gold
Bonds are up in this prosperous country
Where the cash is green and inflation's "petty"
Own some gold
Strapped in this debt, just our country encumbered
How we got here I can't remember
The central bankers tell us it's much safer to spend
We should just buy more SUVs and just pretend
We really should hyperextend
Oil's up in this prosperous country
Where the cash is green and inflation's "petty"
Own some gold, yeah
Heating's up in this prosperous country
Where the cash is green and inflation's "petty"
Oh, so glad we can own gold
So much to pay, so much to pay, so much to pay, so much to pay
Captain America shops at Wal-Mart
He's beginning to upset our applecart
He said, "Put it on my VISA and I'll do my part."
He is really in a bind, are you blind?
Our debt has grown eight trillion times
Debt is up in this prosperous country
Where the cash is green and inflation's "petty"
Own some gold
Copper's up in this prosperous country
Where the cash is green and inflation's "petty"
Oh, so glad we can own gold
Silver's up in this prosperous country
Where the cash is green and inflation's "petty"
Own some gold
Gold is up in this prosperous country
Where the cash is green and inflation's "petty"
Own some gold, oh, so glad we can own gold
Oh, don't want to know, don't want to know, don't want to see us fold
But so glad we can own gold
Something's wrong in this prosperous country
Where the cash is green and inflation's "petty"
Own some gold
Oh, so glad we can own gold
Poster Comment:
Just a little Guns N' Roses for our Guns N' Butter policies.
Guns and Butter Curve
In a theoretical economy with only two goods, a choice must be made between how much of each good to produce.
There is no choice needed apparently. We are told we can have both. Ben Bernanke, our next Fed Chairman, once said, "But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost."
Port of Long Beach - News Around the Port
The number of inbound containers jumped 22.6 percent to the equivalent of 313,460 twenty-foot units, topping the previous high in August. The August through October period is regarded as the peak shipping season, a time when retailers import much of their end-of-the-year holiday consumer goods such as clothing, toys and electronics.
The number of exports, mostly raw materials, climbed 27.3 percent to 97,009 twenty-foot equivalent units (TEUs). The number of empty containers, nearly all headed overseas to be re-filled, increased 22.9 percent to 199,800 TEUs.
50 years ago we'd have a term for a country that exports its raw materials (and empty containers), drives up its debt, and imports its finished goods. I doubt very much we would have said that country had a strong economy. I guess we'll just have to wait to find out if it is different this time.