"We should be thankful the Pilgrims wised up to their early experiment with communism."


(Caveat Emptor)

News and opinion from all over the political universe. 

Much of it to be taken with several grains of salt.

MAIL:  The Editor                                                                                                                                                    November 26th, 2020

It's appalling to  hear a small number of liberals call Thanksgiving an occasion for "mourning."
Descendents of the native Americans of 1620 complain about white Europeans seizing land that was not theirs!

   Winston Churchill once said that when the present goes to war with the past it is the FUTURE that suffers.

  Today we hear a complaint from a small band of descendents of the New England native Americans of 1620 that Thanksgiving should be called a day of mourning because the white Europeans simply sailed into Plymouth Harbor and took the nearby land.

   In olden times American Natives didn't have a concept of land onership. They perfectly understood hunting and other practical means of harvesting the products of nature.  The natives of Manhattan, for instance, would never have sold the island for a handfull of trinkets if they understood the true relative values of the items exchnged.

    In 1620 the native Wampanoag  were not particularly afraid of the Pilgrims. A few had actually been to Europe and could speak some English. They had some trouble with the rival Narraganset natives and saw an alliance with the Pilgrims as possibly helpful.

    The famous "First Thanksgiving" didn't gain fame until the Civil War when President Lincoln called for a national day of Thanksgiving. It didn't become a federal November holiday until December, 1941...signed into law by Franklin Roosevelt only two weeks after Pearl Harbor was bombed. 

    We were born in Plymouth County, MA and exposed to a great deal of Pilgrim lore in our youth. One fact that sticks in our mind is the Pilgrims weren't Puritans. The did not wear dour black clothing as shown by several famous artworks. They favored bright colors, like purple.

     The Pilgrims also mistakenly tried to establish themselves as a communal society, turning in a large share of their produce to a central warehouse from which everyone could receive their necessaries. It was a swell deal for the less productive, but a real drag for the efficient producers. It was soon abandoned.

    Nobody speaks of the 'Miracle of Compounding Interest' any more.

    Doug Casey: "Itís really, really serious. I previously thought it was metaphysically impossible to have negative interest rates but, in the Bizarro World central banks have created, itís happened. Negative interest rates discourage saving. Saving is what builds capital. Without capital you wind up as an empty shellóRome in 450 A.D., or Detroit todayólots of wonderful but empty buildings and no economic activity. Worse, it forces people to desperately put their money in all manner of idiotic speculations in an effort to stay ahead of inflation. They wind up chasing the bubbles the funny money creates." END OF THE WEST. Doug Casey believes the trend toward a cashless society is heading our way. We see signs of it everyday. In fact, we recently got a letter from our neighborhood bank branch asking us to call for an appointment to come into the bank to conduct business. One can still use the drive-up window at will, but for those of us with no need of an automobile this presents a problem. So, for us, it has become lessconvenient to cash a check. "What do you need cash for?" you ask. "Just use your debit or credit cards for transactions."

     Because the law declares Federal Reserve notes to be legal tender it suits us just fine for small run-of-the-mill purchases . If mugged we'd rather lose $50 or so of cash than a wallet full of credit cards. We only have one credit card, which we've held for fifty years, and we rarely carry it unless facing a hefty expense.

     This card company (American Express) sent us a gift of two wine glasses from Tiffanys last week to celebrate our 50th year with them. A daughter helped us wnwrap the gift box and she checked the value on Tiffany's web site.  $40.00 each!  They're beautiful, and much appreciated.  


  This 2020 graph is already out of date. It shows the public debt as barely more than $23 trillion. The debt is rising at $100,000 per second and as of  9AM today it had risen to $27.3 trillion. 

    Not until the Reagan administration did the public debt ever top $1 trillion.  The 1982 budget deficit was nearly $128 billion running the accumulating debt to more than $1 trillion for the first time in history.  We have been told not to worry about the soaring public debt because we "only owe it to ourselves."  This is true but we know of no one who intends to pay into the U.S. Treasury his/her share of the debt.

    The fact is we have piled up this huge sum of IOUs for our posterity to deal with - only they are not aware of it yet. They will be more angry than wet hens when they discover the plain facts.

     The graph shows exactly when the public debt total topped $1 trillion for the first time. The United States government,  and a large percentage of its citizens, have been on a borrowing binge ever since. 

    One of our children remarked yesterday,
"But Dad! When the car dealer offers a new car at comfortable instalments at ZERO interest why wouldn't you want to take advantage of that?"

     Because of the uncertainty of the future.  In this pandemic period we cannot count on uninterupted health. Illness or death can destroy the family's income. Too many posessions carrying mortgages....house, cars, boats and what not can seriously damage one's net worth. Likewise, an excess of credit card and other debt can  ruin one's balance sheet. 

    Ben Franklin and other Colonial sages suggested that people "live within their means" and try to set aside a little money for the future.  "A penny saved is a penny earned."

** ** ** ** ** ** ** ** 

From U.S. Statistics, 1792...the new federal government ran a budget deficit of $1,410,000.  It ran several surplusses over the next 10 years and the public debt was roughly $3 million less than in 1792.    Needless to say the American dollar was substantially stronger in terms of content and purchasing power in those days!)

We're 10,000 above the patient peak last Spring and heading higher. 
Who's paying the tab for all this?
   Charles Hugh Smith has been studying and writing about professional sickness care for some 15 years and his opinion regarding the present virus pandemic bears scrutiny.  Large sectors of the population are frightened by the threat and assume they have a right to hospital care whether they can pay for it or not.  Demand and prices for medical care are running off the charts.

     Says Smith:  "
The hollowing out of financialization has been accelerating for over a decade. In effect, there are two tiers of healthcare: the 'sickcare' system managed by profiteering, predatory, parastic corporations and their non-healthcare managers/shareholders who are seeking the $30 million payday, the $300 million payday or the $3 billion payday.

     "The second tier is composed of the overworked, over-regulated healthcare professionals trying their best to provide care within the hollowed out, unaffordable dysfunctional, unsustainable 'sickcare' system of rapacious cartels, compliance managers, debt deals, lobbyists, unsafe medications passed off as 'safe,' off-patent medications brought back under patent protection via pathetically transparent formula tweaks, billions of dollars of pharmaceutical adverts directed at patients, a practice that was illegal a generation ago, and so on in an endless profusion of skims, scams, rackets and corruption."  HEALTHCARE IS UNRAVELING

Can inflation ever end?
Of course.  But, monetary inflation has never been known to end conveniently.

     The Federal Reserve has done a phenomenal job of keeping price inflation rising every year since 1940, excepting for the little hiccups to the downside in 1949 and 1955.  That's eighty years of price inflation!  It's time to stop.

      Mainstream media are still busy promoting the cracks and crevices in the political and social scene, ignoring - for the most part - the dangers of crumbling monetary issues.  Lost entirely to journalists, and therefore the general public, is the fact that the Federal Reserve has driven the purchasing power of the U.S. dollar of 1914 to a mere 4 cents.  The Fed is on the record as promoting price inflation...a minimum of 2 percent per year...and flies into a panic at the thought of a deflationary deflation. 

      There is some minor static out there asking for consideration of a return to "honest money" but the connection of honest money to justice is only dimly understood by a minority of monetary experts.  The general public is being sold on the notion of getting rid of paper and metal fiat currency and relying almost entirely on currency created entirely in computers...such as bitcoin. 
Christine Lagarde says her people are "looking at it."
   Lagarde is president of the European Central Bank and stated Thursday that ECU is looking at the creation of a digital currency and it may be introduced in two to four years.  As a youth she was a synchronized swimmer and seems to be swimming in synchrony with other central bankers who have been muttering in public about the possibility of introducing an official currency that exists only in the bowels of computers. This would curtail the use of printing presses at the U.S. Bureay of Engraving and Printing. What will BACK this new digital currency has not been discussed. Probably nothing more than the "full faith and credit" of the national government. Bring a $100.00 Federal Reserve note into a bank and ask that it be exchanged for some full faith and credit and you will be be greeted by a blank stare. You could insist on exchanging the paper note for a hundred dollars' worth of quarter-dollar coins, but banks have been suffering some shortages of U.S. coins because the mint experienced a production slowdown owing to the coronarirus pandemic.(Coins are not IOU's.They are made of base metal and have limited intrinsic value. Paper notes, on the other hand, are strictly IOUs - promises to pay. Fiat money.) 

    "Why not adopt bitcoin?" you ask. Among the things that give a medium of exchange reliabilty and value is SCARCITY. With the federal government borrowing from the future at the rate of more than 100,000 dollars per second - and with the Federal Reserve empowered to monitize the debt as necessary,there is little motivation to put the brakes on money inflation.  This money flood invariably leads to heavy price inflation in popular sectors of the economy.

    The Age of Inflation is an economic trap. Going on an all-digital money standard is not going to eliminate that.

  Why was John Adams so resistent to the idea of forming a democracy?
Because he explored the historical record and found no instances of democracies that failed to destrory themselves.
     A majority of the of the attendees at the 1787 meeting to amend the U.S. Articles of Confederation chose to toss it in the wastebasket and construct a representative republic.  We still refer to a constitutional republic when we recite the Pledge of Allegiance.  It was ratified by the several states ("these United States") in 1789, but since the early 20th century the constitution has been largely abandoned and the republic morphed into a socialist tainted welfare state ("THE United States").  Modern politcians are eager to get their hands on the modern American democracy and "fine tune it" to make it work as they believe it should. 

     Note:  The original constitutional form created a purposely weak central government controlled and supportd by the people.  After the representative republic was replaced by the present democracy the government is expected to support the people, even if it has to send a multi-trillion dollar debt to posterity.  But therein lies the seed of destruction.  When the people must petition their central government for more handouts, and the government must borrow from the future production of the young and unborn, the system is terribly askew. 

     Neither of the major presidential candidates had a plan to do anything about it.  Would-be candidates for 2024 ought to get busy on scripts. People are on the edge of revolution and won't brook any nonsense.

How to pronounce "Kamala."

The Vice-president elect and her family say "COMMA-lah." 

       How to pronounce "Biden."

The president-elect and his family say "BIDE'n."

    The rest of us, including professional broadcasters, are all over the place.  We hear "BI-den " most frequently  and "KAh-mah-lah".

     What to do?"

     As a youngster we were taught that if Mr. Smith pronounced his name "Smythe" then Smythe it was.  If a French person preferred to Anglicize his or her name  we were obliged to do it, too.  The famous French economist Jacques Rueff, however, was content with the pronunciation of his name in French.  It still presents a problem for English speakers. 

        After the election of 1932 many Americans had a terrible time mastering the pronunciation of "Roosevelt."  One very popular mis-pronunciation was "ROSE-AH-velt." 

         We'd like to see educators expand their curricula  to not only include the correct SPELLING of words but their proper  pronunciation as  well.   If we all spoke the same language  our understanding of each other may improve.