"To make sure that everybody had a nice holiday, the Treasury released billions of dollars in actual cash, foreign central banks bought up American debt, and the Treasury issued a humongous clot of new debt, the size of which is so huge that I dare not look at it with the naked eye. Earlier, and I shudder to think of it, I had gotten a glimpse of it as I was scanning some other number, and the impact from that brief fleeting peripheral vision glance caused my heart to - urk! - momentarily seize up. So naturally I am afraid that if I look directly at the heights to which Official Government Debt has grown I will turn to stone, just like what happens when you look at a Gorgon, of which Medusa was one, she of the hideous hair of snakes, and whom Perecles and was supposed to slay or something, and I think the Three Stooges were somehow involved, but, then again, Greek mythology was never my long suit."
Mogambo Guru
dailyreckoning.com |
