Some realities of the new year, and for background, my post-election newsletter that had the True Believers so upset. First, of course, the Deal to Save Us from the Fiscal Cliff is a predictable joke. Many thoughtful observers have already said it, but we labor under the rule of a political class that has no interest in making actually responsible budgeting decisions — since that would mean puncturing the fantasy that wealth originates from Washington, which remains pure electoral gold. So we see this today:
Regardless of the cliff deal, this became an inescapable reality once the ball, acorn, pickle, possum approximation, ad nauseam reached their respective nadirs last night:
But the current policy of the Fed under Chairman Ben Bernanke might eclipse them both. Hey, you know in the long run we’re all dead:
