A Scribble of Scant Importance

Dear Dr. Bones,

I realize that the court historians of Princess Posterity will not care much about this item, which Paddy and Eye are sending to you only so as to obtain a firm URL for the included scrap of idolatry when we venture to address the cerulæan nobility and gentry.

Nobody can tell from the snapshot what day's bond rates those are, and the link to the page will always give the latest.

Why raise taxes? The US government is lending money at negative interest rates – no one should be talking about raising taxes until we start making treasuries more expensive. dhammer @ Fri 8 Jun 9:31 AM

‘Negative interest rates’ is hypothetical (( fold here )) Paddy McTammany, at any rate, can easily imagine POTUS Romney an’ Secretary of the Treasury P. D. Ryan, Jr., "the Smirk of Janesville," takin’ US all for a tailspin over to the Wunnerful World of Deflation to delight Grover Freelord Norquist in particular an' their Classmates/Paymasters in general. The result might be that in ten years your freelordship’s Fedguv I.O.U., acquired last Tuesday morning, will, in June 2022, have been redeemed for, say, ‘only’ 101.63% of face value.    Since, however, each stately neobuck in the third year of the first Ryan Administration will be worth (say) $1.50 of Bernanke von Ludendorff funny money from a decade earlier, why, ¡your freelordship will really be gettin’ not quite $1,525.00 back for every thousand specuvested! Smirkonomics will probably be not quite *that* successful, I realize, but it does not need to be to falsify "lending money at negative interest rates." Plus afford your freelordship a tolerably comfy real R.O.I. Happy plays.

Paddy and Eye might have added, what Dr. Pressbeater of the prestigious Seeper Institution would certainly have, that "making treasuries more expensive" is not altogether up to Wunnerful US.

Should the Lesser Breeds Without keep throwing their doits and pesoes and whatnot at poor old Sam the way they have been lately, I do not see how Freelord Norquist, and The Smirk, and Freelord Hammer, and all their Classmates an’ golfin’ buddies, are to obtain dear money for Sinn Féin, no matter *how* badly they crave it.

But Keynes knows best.

Happy days.
--JHM