Wednesday, September 25, 2013


Rick Santelli talks about the treasury purchases by the Fed and says they are unfair to poor folks. He gives the stock price of Walmart vs. the stock price of Tiffanys as an example. Tiffanys is up three times as much as Walmart. I guess he means to point out the fact that the rich can afford to buy much more than the poor can afford because the rich peoples assets have appreciated much more than the poor folks assets. The poor have no assets. The only asset of the poor is their good health and their ability to work for an hourly wage.

Rick does not advocate for higher wages for the working poor. Unless of course the economy booms so much that the poor and their labor are indispensable. But then we would just import more from China where the workers are cheaper. That is Rick's free market capitalism.

How will this country, the USA, ever put people back to work if we don't have a debt boom like the recent past? The answer is: we will devalue our currency in order to make imports more expensive to purchase, and more desirable to make here in this country.

It is not another debt bubble that Mr. Bernanke and his Federal Reserve want. It is a depreciation of the US Dollar.

In the abscence of tariffs on imported goods what else is there? The rest of the world has been manipulating currencys to their own benefit for decades. And we had the debt bubble to show for it.

As the dollar goes down the people of the US need to stand up for increases in the minimum wage if we don't want the poor to get poorer. And if we want them to be able to afford the goods the will be making here.

I think I will get a bumper sticker for my car that reads: Warren 2016


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