Monday, July 20, 2020

The Deficit

This discussion of the US federal deficit appears to be a lame blame game:

https://thehill.com/opinion/finance/508046-judd-gregg-when-the-dollar-is-worth-60-cents

In case you did not know, the dollar is now worth about 5 cents:


And that decrease in value occurred with the full knowledge of the Federal (sic) Reserve System, the US Congress, and all of our corporations and banks, none of whom did a damn thing to stop it.

US Constitution
Article I, Section 8
The Congress shall have Power
5: To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

And they did a damn shitty job, didn't they?

No comments:

Post a Comment