Happy New Year!

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Published : January 04th, 2010
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2010
Year of the Buck



Last year I proclaimed 2009
The Year of the Wheelbarrow, but it appears I was wrong (or at least premature). So this year I am trying a different approach. This year I would like to dedicate 2010 to the first-ever pure king-daddy globalized fiat currency that is capable of debauchery, dilution, delusion, deception, degradation, defalcation, degeneration, defecation and debasement all while rising in value!

Between consumer electronic price deflation, the housing price collapse, the loss of Dow 14,000 and 78ish on the USDX, ol' Buck buys more of just about everything (except gold) today than it did two years ago! All while multiplying its monetary base, exploding USG expenditures, and hyperinflating UST debt issuance at Guinness World Record-breaking speeds during the same two years!

And we should not forget the Maestros that make it all possible! To Ben "POTY" Bernanke (Person Of The Year), and to the very young tender Timmy Geithhhner, master blaster of the bills and bonds, this (green) Bud's for you! Cheers.

(Photo by Jesse)






Happy New Year to you all!

Sincerely,

 

FOFOA

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