Saturday, November 08, 2008

What, No Wheelbarrow?

Ended up over at SurvivalBlog by a very odd route and found a letter about inflation, deflation and financial hard times.

     What I fail to understand about money, banking and monetary theory starts somewhere in the middle of buying things on credit (which may explain my extreme conservatism about large purchases) and goes on to fill libraries, not to mention other people's bank accounts.  But this note makes sense and suggests that for any "adjustment" short of the Fed augering in and tryin' to print their way out of it, FRNs are still good and gettin' better.  At least right up until they're only good for insulation and wallpaper and when that happens, there's damn-all else that'll stand in for money, either

     (Next: ".22lr, the new dime?"  Aw, geez.  NOT.)

3 comments:

Joseph said...

I do use credit...judiciously. I have only one credit card, with a low fixed limit. Don't use it much, mainly because I consider the interest rate on any credit card (or car loan for that matter) to be highway robbery.

Turk Turon said...

With the Federal Funds rate at only 1% the Fed doesn't have much room left. I guess they could go into "negative" interest rates, i.e. actually pay people to take their money...

Boston's Gun Bible muses that .22 LR might be the nickel of the TEOTWAWKI economy.

Captcha: bedsk

Timmeehh said...

Darn, I was hoping this was going to be a post about tactical wheelbarrows!