-- Posted Sunday, 6 January 2008 | Digg This Article
| Source: GoldSeek.com
To show you that it is actually true that the Russians executed all their intellectuals in the Russian Revolution in 1917, and low-IQ fascist morons were/are running the place by default (as opposed to the United States, where idiots are actually elected to government offices, with Ron Paul pretty much being the sole exception), from Bloomberg we learn that Russian Prime Minister Viktor Zubkov told the Duma that "Higher-than-anticipated inflation this year made it necessary to budget extra funds for salaries. The Russian government will submit amendments to the federal budget to keep its promise of boosting wages". Hahaha!
And, even funnier… Whose wages will be increased? Mr. Zubkov said he wanted to "increase the wages of government employees and military personnel." Hahaha! The people who are a deadweight loss to the economy are getting higher wages, so that they can increase their spending and increase the prices of goods and services for everybody! Hahaha! Idiots!
Apparently, Comrade Zubkov is unaware of the fact that increasing wages, especially government employee wages, especially when there are lots of government employees, are a cause of inflation in consumer prices. In fact, it is famous as part of the "wage-price spiral", which you would have thought he would have at least heard of since he is such an "expert" on wages.
And if this Russian doofus thinks that raising money wages will translate into higher, real (inflation-adjusted) income, then he is as stupid as the rest of the idiots running the world. In fact, Jim Willie of the Hat Trick Letter says, "Since 2003, the average price adjusted wage in the Untied States has fallen by 4% to 5%, depending upon men or women. If one properly adjusts wages for inflation, the fall is more like 25% in real wage decay!!!"
Note with alarm the three exclamation points he uses! Note with alarm the significance of a 25% decrease in real, inflation-adjusted wages! Now you know why three exclamation points seems to be actually restrained!
Well, this could help explain why Mike Larson of MoneyandMarkets.com says, "An alarming 5.6% of the nation's homeowners have fallen behind on their mortgage payments - up from roughly 4.7% a year earlier and the most since 1986. The percentage of homes in any stage of foreclosure has jumped to 1.7%, the highest since the Mortgage Bankers Association began tracking it in 1972."
And S&P/Case-Shiller says that the price of an American home lost 6.1% in market value when measured from a year ago. The Census Bureau reports that the price of new homes is down 13% in October, which is the biggest fall in 37 years! Yikes!
But while houses are going down, everything else is rising in price, and people are going to be agitating for higher incomes, which will cause more wage-price spiral inflation.
And in a similar vein, and for a real nice piece of Highly Ironic Crap (HIC), nothing tops John Roberts, who is the Chief Justice of the Supreme Court. As a little background for the benefit of those who will later be asked, "What in the hell made that Damned Mogambo Idiot (DMI) go crazy like that?", the answer is that the Supreme Court in (as I recall) 1934 that said that money did NOT have to be gold and silver, as literally required by the Constitution, and that Supreme Court infamously said that the damnable FDR and his federal government could impose a paper, intrinsically worthless, fiat money on the country, despite what the Constitution says!
And then every damned, stinking Supreme Court since then has refused to overturn that despicable, traitorous action, including the despicable traitorous trash that is currently sitting on the Supreme Court.
And the result is exactly the result that the Founding Fathers wanted to prevent at all costs; inflation in consumer prices that always follows an inflation in the money supply when you let the government create as much money as it wants!
The beauty of a gold-as-money economic system is that inflation in prices is all but impossible under a gold standard under normal conditions with a restrained banking system, and lamentably (and disastrously), ruinous inflation is inevitable under a fiat currency standard.
So now, with the decades-long increases in the money supply now producing terrifying increases in prices (due to the fall in the dollar's purchasing power, thanks to the Federal Reserve creating so much excess money and credit), here comes this John Roberts lowlife in the news, crying out piteously to Congress to please, please, please raise the salaries of federal judges, not mentioning that these other federal judges are also inherently complicit in this un-Constitutional fiat currency scam.
So, my heart is bleeding that the lowest paid federal judge is "only" making $165,200 a year, which Mr. Roberts thinks is insufficient anymore, probably for the same reason that everybody else has for being dissatisfied with their salaries, too; prices of things are up so high!
The salary of Supreme Court members, in case you were wondering, is $203,000, and Roberts himself makes $212,000. More than a million bucks every five years.
I probably don't need to remind you, but I will anyway, that these salaries are almost 500% more than the average HOUSEHOLD income!
And all of this coincides with the release of the annual report on hunger and homelessness from the US Conference of Mayors. Recently released was its 23-city Hunger and Homelessness Survey, which shows a dramatic increase in pleas for food and assistance. InformationClearingHouse.com posted the WSW article that said that the "median increase in requests for food was 10 percent." In Detroit, "emergency food requests shot up 35 percent over the 12-month period ending in October."
In short, if there is one group of ignorant, worthless, clueless, preening weenies who do NOT deserve more money, it is federal judges, who are the guilty bastards who have allowed this inflation in prices that is causing so much suffering by being traitors to the Constitutional and its requirement that money be only of gold and silver, literally ripping that requirement out of the Constitution, even though they alone had the power to force the government and the Federal Reserve to adhere to what the Constitution literally requires!
But they don't! So screw 'em! Screw 'em all!
I involuntarily spit in disgust, and now there is spit all over my computer screen. Disgusting. I gotta go, as I am too angry and disgusted to work.
P.S. To get The Daily Reckoning sent directly to your inbox, sign up for our free email newsletter, or if you prefer to use RSS, subscribe to the Daily Reckoning RSS feed.
Editor's Note: Richard Daughty is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the editor of The Mogambo Guru economic newsletter - an avocational exercise to heap disrespect on those who desperately deserve it.
The Mogambo Guru is quoted frequently in Barron's, The Daily Reckoning and other fine publications. Click here to visit the Mogambo archive page.
-- Posted Sunday, 6 January 2008 | Digg This Article | Source: GoldSeek.com
