Some days you just wake up with things on your mind. Apparently mine was occupied with more thoughts of economic strangeness this morning.
First, maybe now I understand the O-man's campaign promise (btw, I generally use the O-man when talking about him prior to ascension, and alternately President O or Big Daddy O now) about how his tax plan was only going to increase taxes on the "rich" or the wealthy few. He probably already knew... or had been informed... that with the economy tanking people's wages would necessarily have to shrink as would the inflated value of all things material. And therefore, the portion of Americans who would be negatively effected by the new tax plan would necessarily shrink as well.
Hmmm, at least he is not a total liar. Of course, in fairness, ALL politicians are of similar ilk... some just worse than others. And, it is necessary to say, the President is not this all powerful being. The laws are introduced and made in Congress. The laws are verified in the Courts... All the President can do is say yes or no... to the entire thing. So, mathematically, Legislative > Judicial > Executive. This is a theme that will no doubt recur during the course of this blog as will congressional term limits and congressional pay rates being voted on during national elections.
Second and much more random, inflation is coming and perhaps that is why the banks don't want to lend any money. Take this scenario, I purchase a bunch of items right now with my credit cards. As the value of the dollar decreases, I am still paying back in dollars. But, the inflated "value" of what I have purchased is now worth substantially more than what I am paying back. Maybe the banks are just waiting for a little stabilization so as to maximize their "value"... in addition to the other reasons for waiting. Meaning, in my humble opinion, that we need to quit printing money just because we have the paper and ink to do it with.