Mar 22, 2013

Bernanke takes Econ. 101

If I didn't already know who Peter Schiff is, I'd probably just go along with John McCain and figure him as a libertarian kid in a dorm room.  In fact, of course, he's a grown-up libertarian long past his dorm-room days. Not to mention he has a record of being right about economic trends.

Here he is suggesting again that the warp-speed printing presses tended by Ben Bernanke are likely to complete the destruction of the American Greenback, also known far and wide as the "Federal Reserve Cartoon."

"Nope," says Ben, cuz this year the dollar is actually rising against that ubiquitous "basket of currencies," that is, against other country's cartoons  which also masquerade as wealth.

But Ben tries to be fair, so he signed up for one of my economics seminars here at Camp J.  I served him fresh-squeezed orange juice from a silver ewer, just so he'd feel at home. Then we gamed his rising-dollar theory.

We stood next to a picnic bench and eyeballed our relative height. We agreed I'm a little taller. Then we each stepped up onto the bench and again eyeballed our relative height.

"Dr. Bernanke, would you agree I'm still a little taller?" I asked.

"Well I'll be a sonuvabitch!" he exclaimed. "Yes. I believe your are."


It' a start, but I'll believe that the lesson sunk in when I hear the presses slow.

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