October 31, 2008
U.S. Economy Inflates and Recedes Simultaneously
America’s turgid economy has finally oozed over the brink of a deep financial chasm, the likes of which has not been seen or smelled or imagined for decades.
The world banking crisis, rising commodity costs, and an uncertain energy supply have combined to ignite a paper bag of dog poo left on the doorsteps of hapless consumers.
At the same time the world monetary supply tightens, prices continue to soar. According to gifted moneyologist Warren Buffet, the costs of luxury yachts and Moet & Chandon champagne have risen nearly 400% in just seven years, although according to Mr. Buffet the inflationary spiral hurts the very wealthy “not one damned bit — we’re too rich.”
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