[Flefebleaft]

-- Posted Monday, 7 May 2012 | Share this article | Source: GoldSeek.com


I recently had a revelation of sorts, distilled from my merely noticing what happens when passing by my neighbors, out on their stupid lawns, playing with their stupid kids, or washing their stupid cars, or just doing something stupid.

I am sure that you wonder how I can tell that they are stupid. Easy. I've been telling them to buy gold, silver and oil, for so long, and to such little effect, even in the face of such enormous gains accruing to those who followed such Fabulous Mogambo Advice (FMA), that one can only conclude that they are stupid or deaf.

And I know they are not deaf because when I helpfully say to them "Hey, you drooling moron! Buy gold, silver and oil stocks or kiss your stupid, ugly butt goodbye!", where by "ugly" I mean "big", they always reply, all huffy, "Who are you calling a drooling moron, you moron?", thus proving that they can, indeed, hear.

Anyway, being the friendly, peach-of-a-helpful guy that I am, as I pass by them in my snazzy Mogambo-Mobile, I always honk the horn several times to get their attention, and then we exchange the usual pleasantries, usually along the lines of them saying to me "Shut up that stupid horn, you dumb Mogambo bastard!", with me responding by cheerfully reminding them of their many, many errors, delivered along the lines of "I told you that your economic hell was going to happen, you lowlife cretin of a moron, because the Federal Reserve is creating so much excess money and credit!"

If I don't think that they are near enough to actually hit my car with anything, I can go slow enough to manage to throw in a little free history lesson for them, too, as in "And if you had bought gold, silver and oil when I told you to, then maybe you would be wealthy by this time, instead of just being older, uglier, fatter and (as far as I can tell) even stupider now than you were when you were too damned stupid to buy gold, silver and oil like I told you to, way back when, which was, QED, pretty damned stupid of you, and a complete waste of my Precious Mogambo Time (PMT)!"
They, of course, voice their displeasure at my reminding them of what imbeciles they are, mostly by engaging in making crude gestures, shouting rude profanities and flinging pet excrement at me, all of which are low-class behaviors that you would naturally expect from morons that are so, as previously postulated, stupid.

To be accurate, and just to set the record straight, my idiot neighbors only act hateful and cruel because they foolishly think that I am NOT carrying some kind of weapon that might "accidentally" fire, usually in the direction of somebody being hateful and/or cruel to me, and who is, obviously, asking to have their middle finger shot clean off.

But as to stupidity, if you want a frustrating afternoon, trying explaining the simple idea that the continual creation of a larger money supply leads to price inflation, even though Milton Friedman famously said -- long enough ago that they should have heard of it by now! -- that "Price inflation is always and everywhere a monetary phenomenon."

So, I honk my horn at these boneheads, and I disdainfully huff in my haughty condescension that they deserve what they get for ignoring Friedman, and ignoring the enormous increases in the money supply created by the evil Federal Reserve, a lot of which was used to buy the $5 trillion of new Treasury debt issued by the evil Obama spendthrift administration in the last 3 years!.

So, I mean, you would think that some, or at least one, of these proletariat halfwit neighbors of mine would have been impressed with Friedman's profound economic truism, especially considering the fact that nobody has disproved it yet!

Nor has anyone even found any time in history where such increases in the money supply did NOT produce inflation in prices, which of course hurts the poor by making things cost more.
As to the economy today, in case you are wondering on the edge of your seat what will happen, pull your chair up here closer to me so that you can look deep, deep into my eyes, and thus be impressed by my Awesome Mogambo Sincerity (AMS).

Perhaps then you will understand the terrible enormity of what is happening because the evil Federal Reserve created, and is still creating, so much excess money and credit for the last 25 years, and maybe that explains why the soundtrack to this Fabulous Mogambo Essay (FME) sounds so spooky and foreboding, a sonic mishmash with crashing, clashing horns making your skin crawl at the horrible dissonance, but not quite able to disguise the sound of ravenous wolves and government-employees unions approaching, one to eat you, and the other to eat your wallet.

If you don't hear the soundtrack on your computers, it is bad news for those of us who are both paranoid and have no idea how computers or soundtracks work. I figure that it means that the government is censoring me, crushing me under its hob-nailed boot heel, to keep me from giving you the vital, VITAL advice to buy gold, silver and oil as protection (and enormous wealth-generation!) against the raging price inflation that will rain down upon us because of the foul Federal Reserve.
In fact, the vital, VITAL information to buy gold, silver and oil, distilled, as it is, from thousands of years of history, is so important (as indicated by the repeated use of the word "vital" over and over, which I use to make myself feel important) that I expect secret government agents to take action against the spread of this Immortal Mogambo Message (IMM) at any secon...


http://news.goldseek.com/GoldSeek/1336406909.php

[mincarlie.frymyer]

I thought the Mogambo Guru retired.

[Flefebleaft]

I thought the Mogambo Guru retired.

From the way he is writing ,PHNT.......perhaps he needs too.

[mincarlie.frymyer]

From the way he is writing ,PHNT.......perhaps he needs too.

That's his style.

see this thread for some more Mogambo Guru action.

Attention Silver Rangers!!!! Report to your posts!!!

[AgJ5mNXM]

Sometimes he's silly, sometimes hilarious. But he sure ain't wrong... (except for the "stocks" part... I'm not down with that).

[Xlkl9SFd]

Helping make today Retro-Rant-Day! (RRD)

1, 2, 3, Puke

By James Howard Kunstler
on May 7, 2012

Europe may soon be choking on that plat du jour of government a la Hollandaise with the side of chopped Greek salad. The whole world, in fact, has got something like a giant hairball stuck in its craw. The hairball is composed of filaments of lies wound over a core of supernatural indebtedness. The lies are promises that the debt will be paid back.

For two months the financial markets have gone sideways on a cushion of the European Central Bank's Long Term Refinancing Operations and the hot air of austerity chatter. The illusion of remaining airborne may dissolve now with the Hollandaise denunciation of Franco-German team spirit while a centripetal vortex of unpaid obligations sucks notional wealth through the event horizon of massive deflation.

Things are heating up, in other words. Wake up, sleepyheads! Welcome to the rest of the year 2012.

Paul Krugman, the Nobel Prize winning Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and op-ed columnist for The New York Times, is so amusing this morning. I, too, almost upchucked my "Paleo" diet breakfast of salmon hash with four eggs (pas de Hollandaise). Krugman writes in his column:

What's wrong with the prescription of spending cuts as the remedy for Europe's ills? One answer is that the confidence fairy doesn't exist -- that is, claims that slashing government spending would somehow encourage consumers and businesses to spend more have been overwhelmingly refuted by the experience of the past two years. So spending cuts in a depressed economy just make the depression deeper.
What an excellent misrepresentation of reality by one of the official molders of public opinion and policy in this exceptional land. I would attempt to debate his statement above that spending less government money is proposed to encourage consumers, blah blah. It is proposed because government doesn't have the money to spend and has run out of the ability to borrow more money due to the bad odor now wafting off the world's compost heap of sovereign bond paper. Everyone is going broke simultaneously, including putative lenders, i.e. buyers of bonds, who are the same ones selling them.

I like the way Krugman avers offhandedly to the concept of "depression." I believe this is a new thing for him to admit a certain absence of "green shoots" on the spring economic scene. Heretofore his halftime act between two presidential terms has been sheer cheerleading, but I guess he forgot to bring his pompoms to the office yesterday. I would refer to the situation as something more severe than a "depression," which merely suggests a valley between peaks. I would say that we are instead out on the arid buzzard flats beside the deep blue sea where modernity is shortly to drown itself in a fugue of suicidal bad faith.

All of which is to say the pretense that has reigned since 2008 (viz: "recovery") may not float through the rest of 2012. Surely in the USA, we are approaching a dark inflection point where the fall elections collide with the broken promises now gathering into the shitstorm vulgarly called "Taxmageddon." The event horizon for that extravaganza of financial lightning strikes is officially January 1, but the effects will be felt long before that as households, businesses, pension funds, municipal governments, and various branches of the US military prepare to roll over and die.

Enjoy the European sideshow for now because the roustabouts are still setting the props for act in the center ring. When the clown cars pull into the political conventions this summer, I would like to see these circus troupes greeted by large and lively mobs of furious citizens hurling objurgations at the likes of Barack Obama and Willard "Mitt" Romney. This is probably the least we can do to register some objection to the two useless parties' way of running things. Also, by the way, I would wonder what the generals over in the Pentagon will think (or might do!) as they see their country fall to tatters.