Archive for June, 2008

More On Inflation…

Sunday, June 22nd, 2008

I feel the following three paragraphs (taken from Jay Taylor’s Gold & Technology Stocks @ www.miningstocks.com June 21, 2008) represent a trenchant expression of the potential for severe inflation that hangs over us here in the good, old U.S.A:

“Like hookers, politicians turn their own kind of tricks. They trick voters into thinking they are getting something for nothing while they are having their pockets picked by $135 oil prices caused mostly by an increase in the money supply used to finance the exact giveaway programs that get these clowns elected time after time! The connection to the growth of money supply has been downplayed as a cause of inflation, for obvious reasons. Politicians do not want the general populace to understand the connection between an increased money supply used to fund government wars and social programs so they can keep on practicing their form of “prostitution.”

“Yet, the mainstream does in fact seem to have some vague view of a connection between “lower interest rates” and inflation. Of course what they don’t say is that lower interest rates are orchestrated by the Federal Reserve’s increasing the money supply out of thin air (creating money with a keystroke of their computers).

“But one thing mainstream pundits and policy makers never talk about is velocity of money. The velocity of money is simply the rate at which money turns over, or changes hands. When prices are rising slowly, people are less eager to trade their paper money for real, tangible items, because they are confident they can buy what they need in the future at the same or even lower prices. However, when people lose confidence in the stability of the purchasing power of their currency, they tend to buy today for fear the price will rise even more tomorrow. I can tell you from personal experience, I have stopped by the gas pumps to top my tank a few times recently as the price of gas has been rising at a faster and faster pace. In other words, when an inflationary psychology sets in, the velocity of money increases.”

Okay, folks, does that make increasingly more sense to you? My prior piece on inflation may have been too general. I think the above quoted paragraphs add something you can relate to in your daily life. Just know that when the REAL rate of inflation (currently estimated to be running around 11%) rises above the increase in money supply (M-3 expansion looks like it’s closer to 16% here in June, 2008) most of us will start, in earnest, to “buy today for fear the price will rise even more tomorrow.”

That does not seem to be the case at the moment. May such a condition NEVER arrive here…. God bless Amerca, if it does.

Barnes & Noble Signing…

Saturday, June 21st, 2008

I’d like to thank everyone that dropped by Barnes & Noble’s University store on South Main Street in Wilkes-Barrre, PA on Thursday, June 12th. It was good to speak with so many people and discover just how interested they were in my life story. (At www.3AcesTheNovel.com see my Media Room for Lisa Sokolowski’s “Up Close And Personal,”Diamond City, June 5, 2008.) The years of writing 3Aces, then the struggle to publish, had left me feeling somewhat burned out. But the positive vibes from so many of the visitors was enough to get the juices flowing again. I was especially moved by an 82nd Airborne man (on leave from Iraq) who zeroed in on the pages exploring Abner Weaver’s PTSD, reflected in the real-life isolation that frustrates so many on patrol in the desert. “No one to talk to…” is taking a toll over there. Those problems come back home when the troops do. Today I’m heading for a signing in Fitze’s Department Store at the annual Founders’ Day Celebration in my home town of Tunkhannock. Just around the corner…a short trip. See you there.

FOOD, FUEL, AND FOLLY.

Tuesday, June 17th, 2008

For some time now, it’s been obvious to all of us that the prices of food, fuel, drugs, medical care, college tuition, etc. have been rising steadily and markedly. Equally obvious are the inconsistencies (spin, lies) regarding the monthly and annual statistics on inflation that, like clockwork, issue forth from the Department Of Labor in “foggy bottom,” Washington, D.C. (more…)

HERE’S LOOKING AT YOU, KID…

Monday, June 2nd, 2008

Born June 21, 1934 and raised on a farm near Harvey’s Lake, PA… at age three, wandering off and concealing himself in a hayfield, the already adventurous boy was the subject of an unusual accident: the child’s feet were essentially amputated at the ankles by a horse-drawn, sickle-bar haymower. A miracle of surgery-performed in the Wyoming Valley by the coal industry’s top orthopedic surgeon, Dr. Harry A. Smith-rejoined the feet to the boy’s lower limbs. Everything medically possible had been done; but, in those days, the emotional impact on the child was of little concern.

A loner in steel braces until the age of eight, Richard Ide began writing stories in grade school. (Not until leaving Atlantic City, at the age of 49, would he seriously attempt a first novel.)

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