dollar inflation

"U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services."
-- Ben Bernanke, speech to National Economists Club (Wash., DC) Nov. 21, 2002

debt ascendant

"Financial innovation has been responsible for reducing the previously direct relationship between consumption and income."
-- Stephen Cecchetti, Financial Times

airwaves

they seem near, but they are far away.
they knew last year what you'd want today.
they're controlling everything you do.
all your dreams, all your ambitions
are sent to you in their transmissions.
airwaves -- everything you know is in the air

they will always find you where you are.
if it's peaceful, they can start a war.
they're translating everything you feel.
they will make your troubles fade away.
when you're sad, they'll make you feel so gay.
airwaves -- everything you know is in the air.

-- Action Plus (1996)

blind faith

"I think we should just trust our president in every decision he makes and should just support that, you know, and be faithful in what happens."
-- Britney Spears (2003)

mass stupidity

"The average man is no genius.
And half the population is even dumber."
-- Bill Bonner, Daily Reckoning (after George Carlin)

All I Want is You

I've been hurt and I've been hurtful
Been used and I have used
I've been tired and I've been tiresome
I've lied and been lied to

Believe me when I tell you
I don't know where to start
I've got a secret
You have got my heart

I guess it may seem funny
Perhaps a little strange
To feel so close to someone
You've known only a day

There's so much I'd like to ask you
So much I'd like to say
Well I'm gonna miss your smile when you're gone
The one that got away

Believe me when I tell you
I don't know what to do
I've got a secret
All I want is you

-- Scout (1999)

democracy

"Show us a human being...
and we will show you why democracy is a bad idea...."
-- Bill Bonner, Daily Reckoning

doubt

"Yesterday, we were full of doubts...
But today, we're not so sure."
-- Bill Bonner, Daily Reckoning