Category Archive 'Inflation'
30 Sep 2010

Former French Minister Suffers Lapsa Linguis

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French politician Rachida Dati says “fellatio” comment was slip of tongue.

Former French justice minister Rachida Dati has said the reason the word inflation came out as fellatio during her talk, was because she was speaking too fast.

Dati, 44, laughed at the mistake she had made on Canal Plus television during a radio interview.

“I just spoke too quickly but, well, if that lets everybody have a laugh, then that’s fine,” quoted her as saying.

The MEP had confused oral sex with rising prices as she launched an attack on foreign investment funds.

[“…moi quand je vois certains qui demandent des rentabilités à 20, 25%, avec une fellation quasi-nulle et en particulier en période de crise…”]

“When I see some of them looking for returns of 20 or 25 percent, at a time when fellatio is close to zero, and in particular in a slump, that means we are destroying businesses,” she had told Canal Plus in a midday interview.

19 Aug 2009

America’s Future

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Warren Buffett spouts conventional pieties in the New York Times, but in the middle of Warren’s bromidal call for fiscal responsibility, the astute reader will find a shrewd assessment of what is really going to happen.

With government expenditures now running 185 percent of receipts, truly major changes in both taxes and outlays will be required. A revived economy can’t come close to bridging that sort of gap.

Legislators will correctly perceive that either raising taxes or cutting expenditures will threaten their re-election. To avoid this fate, they can opt for high rates of inflation, which never require a recorded vote and cannot be attributed to a specific action that any elected official takes. In fact, John Maynard Keynes long ago laid out a road map for political survival amid an economic disaster of just this sort: “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens…. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

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