Or is it a nightmare…or reality!!! Live or Memorex (oops…dating myself now…)
Anyway…back to the dream…
“…So, I fire off another burst of machinegun fire over their heads to recapture their attention, and shout through the gun port, “Don’t pretend you don’t know about how the Federal Reserve reversed course from their previous outsized $11 billion injection of credit into the banking system, you stinking lying cop! So, don’t insult me by acting like you were completely unaware that Total Fed Credit fell by $6 billion last week!”
As I am jamming home a fresh clip of ammo, I shout, “And what about Japan finally raising interest rates from zero to 0.25%? Rates have been zero for six years, you idiot Gestapo pig!” I squeeze of another long burst.
How could I explain to this government goon squad about the strange and scary perturbations in the flow of economics? Can they even be made aware of such things as the frightening levels of activity in the bank repo market, where $11 billion per day is now expected? With spikes into the high $20’s of billions! Per day!
Then, I realize how to connect with them! I shout, “What about oil, you jerks? The price per barrel is up around $75 a barrel, and the price zooms up and down by a buck and a half a day sometimes!”
And it is not just the money, but that such sudden, wild fluctuations are completely out of character for stable systems. And the terrifying thing about breakdowns in smooth, laminar flows is that a chaotic, catastrophic breakdown soon appears.
At this point, everything became confused and chaotic, as suddenly my wife and children were, for some reason, there in the bunker with me, bathed in a strange, wavering light, urging me to heroically shoot it out with the fascist goons and die like a proud martyr to Austrian economics and the gold standard. Suddenly, I awoke!
It turns out that I was only dreaming the whole thing! Whew! But the statistics, my panic, and the bullet holes in the walls of my neighbor’s houses are all too real, as are their vicious, lizard-like lawyers.
But the slimy schemes of the Federal Reserve are one thing, the paranoid hallucinations of The Mogambo are another. Actual inflation is yet a third thing altogether, making, in all, three. And on that note, and because I don’t want you to miss so much as a single syllable, I pick up my Mogambo High-Powered Megaphone (MHPM) and scream through it: “The JOC-ECRI Industrial Price Index jumped in July, rising to 130.17 from 128.18! That one-month gain of 1.6% in prices is a lot of inflation in one month! What is even more interesting, if you think that being eaten alive by inflation is ‘interesting’, is that the index is up from 108.95 a year ago at this time, which is an inflation rate of 19.5%!”
More on the coming economics horror, here…
And though The Mogambo Guru may shake a spear, once in while, …Shakespeare, he is not!! But, he is still a fun read on the economic inferno.
“Underlying most arguments against the free market is a lack of belief in freedom itself.” — Milton Friedman