Under The Gold Standard America

It Has Been Obvious All Along, To Anyone Paying Attention, That The Politicians Shouting Loudest About Deficits Are Actually Using Deficit Hysteria As A Cover Story For Their Real Agenda, Which Is Top-down Class Warfare. To Put It In Romneyesque Terms, It's All About Finding An Excuse To Slash Programs That Help People Who Like To Watch Nascar Events, Even While Lavishing Tax Cuts On People Who Like To Own Nascar Teams.

I'm Especially Baffled By The Idea Of Taking Insurance Against A U.s. Default. If America Defaults, We're Talking About A Chaotic World - Mad Max, More Or Less - In Which Case, Who Imagines That Insurance Claims Will Be Honored?

America's Political Landscape Is Infested With Many Zombie Ideas - Beliefs About Policy That Have Been Repeatedly Refuted With Evidence And Analysis But Refuse To Die. The Most Prominent Zombie Is The Insistence That Low Taxes On Rich People Are The Key To Prosperity.

Some Years Down The Pike, We're Going To Get The Real Solution, Which Is Going To Be A Combination Of Death Panels And Sales Taxes. It's Going To Be That We're Actually Going To Take Medicare Under Control, And We're Going To Have To Get Some Additional Revenue, Probably From A Vat. But It's Not Going To Happen Now.

There's One Thing That The Fed Has Been Really Good At Cracking Down On, And That's Inflation.