news.goldseek.com >> 6 October 2009
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news.goldseek.com >> 6 October 2009 |
A Bull in a Silver Shop
By: Richard Daughty, The Mogambo Guru
One of the most interesting news items I’ve found was on the cover of The Financial Times, where I learned that a guy named Lahde “made tens of millions of dollars from betting against the financial and property sectors during [the] past two years”, and he now wanted to thank “the low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA” who made it all possible for him to find enough suckers.
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news.goldseek.com >> 23 September 2009 |
Thank the Fed For Your Lack of Purchasing Power
By: Richard Daughty, The Mogambo Guru
In case you were wondering, there is no way to stop spending a debt-based currency once you start, which handily explains why Doug Noland, in his Credit Bubble Bulletin, asks “what about an exit strategy? Well, I see a ‘No Exit’ sign. These distortions have been going on for too many years and become too systemic. Indeed, government interventions are at the core of systemic fragilities that ensure Washington will continue to meddle.”
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news.goldseek.com >> 22 September 2009 |
Speaking Silver’s Language
By: Richard Daughty, The Mogambo Guru
Everybody knows that I can always be counted on to go ballistic about silver being such a Screaming Freaking Bargain (SFB) because of (according to the most recent Official Mogambo Count (OMC)) more than a dozen very good reasons, which is a lot of reasons, and that at $17-and-change per ounce, silver is loudly saying, “Buy me! Buy me!” although obviously not in the literal sense, nor (perhaps less obviously) in the “voices in my head” sense, which shows I am responding to therapy and why everybody is so pleased with me.
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news.goldseek.com >> 18 September 2009 |
Gold and the Asian Airport
By: Richard Daughty, The Mogambo Guru
I was very interested in the news I read from MarketWatch that said, “Hong Kong is pulling all its physical gold holdings from depositories in London, transferring them to a high-security depository newly built at the city’s airport”, although it does not say why the depository was built at the airport, of all places.
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news.goldseek.com >> 17 September 2009 |
The Mysterious and Elusive “Extra Money”
By: Richard Daughty, The Mogambo Guru
I always get a kick out of people – like the author of this week’s “Buttonwood’ column in The Economist magazine – who say that tax revenues to government are suffering because they spent all the inflated tax revenues they got all these years, and now the revenues are gone, gone, gone but all the programs and government-paid employment remains! Hahaha! Another downside of acting like idiots.
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news.goldseek.com >> 16 September 2009 |
Debt for Dividends
By: Richard Daughty, The Mogambo Guru
In another episode where the comics page eerily mirrors real life, a recent “Garfield” cartoon has Garfield confronting a resident rat who has been taking cheese, but leaving IOUs, from the “cheese drawer” of the refrigerator. Garfield threateningly says to the rat “Stop with the IOUs” and the rat calmly holds up his hand in protest and says, with a look of utter sincerity on his face, “No, no…I’m good for it”!
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news.goldseek.com >> 15 September 2009 |
The Government-Based Economy
By: Richard Daughty, The Mogambo Guru
I really got a laugh out of the report from Bloomberg that the Democratic Party of Japan (known in the parlance as DP) won an historic victory in the recent elections, coming to power for the first time in decades with “a pledge to support households battered by two decades of economic stagnation”, whatever that is supposed to mean, but which is, upon even casual inspection, Standard Political Crapola (SPC).
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news.goldseek.com >> 11 September 2009 |
Fighting Capitalism With Capitalism
By: Richard Daughty, The Mogambo Guru
As one more bit of proof that the education system of the United States is a dysfunctional piece of liberal crap, how else to explain the fact the far-leftist moron Michael Moore actually got funding, which assumes an interested audience, for his latest movie, titled Capitalism: A Love Story, which, according to Reuters, “launches an all out attack on the capitalist system, arguing that it benefits the rich and condemns millions to poverty.” Hahaha!
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news.goldseek.com >> 10 September 2009 |
Never Say Never to Monetization
By: Richard Daughty, The Mogambo Guru
If you want to know what kind of monetary morons we have in charge of the Federal Reserve, then you have come to the right place, because a record of sorts was set last week, in that the loathsome, disastrous Federal Reserve bought up – in the last 12 short months – $1.011 trillion in US government securities! Yikes!
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news.goldseek.com >> 9 September 2009 |
Clairvoyant Economists Still Pessimistic
By: Richard Daughty, The Mogambo Guru
The Economist magazine, in a column wryly titled “Pangloss Revisited”, notes that “The average deficit over the next decade in now expect to be 5.1% of GDP, compared with an average of 4% in the original budget”, and that even in the last year of the forecast, 2019, the budget deficit is supposed to be 5% of GDP! Wow!
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news.goldseek.com >> 8 September 2009 |
Evicted from Your Brand New Clunker
By: Richard Daughty, The Mogambo Guru
Roger Wiegand of Trader Tracks Newsletter finally says what I always figured: “Cash for Clunkers was a real clunker. One out of four auto buyers using this program is having buyer’s remorse as they just signed-up for so many new payments they cannot afford.”
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news.goldseek.com >> 3 September 2009 |
Subtracting Inflation to Sweeten the Deal
By: Richard Daughty, The Mogambo Guru
I usually get a nice laugh when I read anything by Paul Krugman, whom I regard as just an infamous Princeton academic leftist, a know-nothing neo-Keynesian econometric hack, and an economics columnist for the leftist newspaper NY Times whose writings are lapped up by an incompetent press even as...
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news.goldseek.com >> 2 September 2009 |
The Nightmare of Contemplating Global Derivatives
By: Richard Daughty, The Mogambo Guru
There are plenty of nightmarish things in the world today, but few nightmares match the terror of finding your wife still awake and waiting for you to get home after you had a late night on the town, or if you have money invested that is in the hands of professional money managers...
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news.goldseek.com >> 1 September 2009 |
Driving a Fiat Currency into a Tree
By: Richard Daughty, The Mogambo Guru
Floy Lilley at the Mises Institute, in her essay at LewRockwell.com, notes that the gold-standard dollar “provided us with nothing less than relative peace and prosperity over a span of 136 years” until that fateful year, 1913.
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news.goldseek.com >> 31 August 2009 |
The Big Payback of Nonexistent Money
By: Richard Daughty, The Mogambo Guru
I admit that I was pretty sloshed when I started haranguing the other barfly trash sitting near me about how “It has been said that the big problem with the human brain is that it cannot understand parabolic curves, and it cannot comprehend the horrific folly of the Federal Reserve increasing money and credit parabolically, and...
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news.goldseek.com >> 28 August 2009 |
Big Ben and the Money Machine, Act II
By: Richard Daughty, The Mogambo Guru
Apparently I am one of the few who appreciates the Theater of the Absurd in the Bloomberg news article that reported “President Barack Obama nominated Ben S. Bernanke to a second four-year term starting Jan. 31”, which clearly means that nobody else in their right mind would take the job as chairman of the loathsome Federal Reserve now that...
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news.goldseek.com >> 27 August 2009 |
A Busy Week for the Money Printing Press
By: Richard Daughty, The Mogambo Guru
I had thoughtfully turned off all the audible alarms to the circuits monitoring the nefarious activities of the Federal Reserve, but you could tell by the way the indicator lights were furiously flashing and the recording pens were scratching maniacally across the seismograph paper that something important was up.
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news.goldseek.com >> 26 August 2009 |
More Stupider Economics
By: Richard Daughty, The Mogambo Guru
TheDailyBell.com had an interview that had the title “Why so many conspiracy theories?” which was intriguing enough, but made funny when they editorialized “Dominant Social Theme: Are people getting stupider?”
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news.goldseek.com >> 25 August 2009 |
Golden Eggs in the Most Valuable Market Basket
By: Richard Daughty, The Mogambo Guru
My skin went clammy and cold when I read that over 140,000 people suddenly disappeared from the “continuing claims” rolls of those receiving unemployment checks at the same time as we see rising unemployment.
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news.goldseek.com >> 23 August 2009 |
A Truckload of Bad Data
By: Richard Daughty, The Mogambo Guru
A guy comes into the bar, and I figure he is a trucker because he looks like a trucker and he is wearing a greasy Peterbilt hat. So I say, “Are you a trucker?” and he answers “Yeah. What’s it to you, old man?”
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news.goldseek.com >> 21 August 2009 |
An Overdue Collapse of Money
By: Richard Daughty, The Mogambo Guru
The Economist magazine had the Buttonwood blog titled “Law of Easy Money”, which immediately gets your hopes up that there is such a thing as “easy money”, which actually exists (just ask Connecticut’s Senator Chris Dodd!), but unfortunately not for guys like you and me who don’t have the political power and grease to extort money and skim taxpayers...
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news.goldseek.com >> 20 August 2009 |
Death By Free Lunch
By: Richard Daughty, The Mogambo Guru
July’s 0.1% fall in sales at US retailers has been termed “unexpected” for some reason that I don’t understand since wages are not rising, unemployment is rising, consumer price inflation is rising, consumer debt is not rising and equity withdrawals are not increasing. So if retail sales had increased, where would the consumer have gotten the money?
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news.goldseek.com >> 19 August 2009 |
Cloudy With a Chance of Economic Stupidity
By: Richard Daughty, The Mogambo Guru
Bloomberg had the story about how “The global financial crisis has blown a hole in the ‘efficient markets’ theory on which modern economics and modern finance have been based, said Richard Thaler, a professor of economics and behavioral science at the University of Chicago.
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news.goldseek.com >> 18 August 2009 |
Let Them Inflate
By: Richard Daughty, The Mogambo Guru
I think that Paul Krugman is one of those absurd guys that has no idea what in the hell he is talking about and who owes his undeserved prominence to being a real butt-kissing sucker-upper to Alan Greenspan and his Federal Reserve, and now he’s doing the same thing to the laughable Ben Bernanke and his disastrous Federal Reserve, although I will admit that I don’t know why anybody listens to this guy.
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news.goldseek.com >> 16 August 2009 |
It’s All Worthless Paper
By: Richard Daughty, The Mogambo Guru
Thanks to Junior Mogambo Ranger (JMR) Marc H., who sent the clip from CourtHouseNews.com with the perfect illustration of both the worth of the IOUs that the state of California created and used to pay its bills, and the general worth of fiat money (like the US dollar) in general.
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news.goldseek.com >> 14 August 2009 |
Why the Government Doesn’t Need Your Gold
By: Richard Daughty, The Mogambo Guru
There is suddenly a lot of interest in the idea that the federal government will make holding gold illegal, an example of which is “Is the Confiscation of Gold by Certain Central Banks Likely?” by Julian D. W. Phillips of GoldForecaster.com.
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news.goldseek.com >> 13 August 2009 |
Canary in a Gold Mine
By: Richard Daughty, The Mogambo Guru
I was dismayed to see The Financial Times article about the new Central Bank Gold Agreement, where central banks agreed to limit their sales of sovereign gold to 400 tonnes a year. The European central banks, which includes the European Central Bank itself and the 16 banks of the Eurozone, plus Sweden’s Riksbank and Swiss National Bank, have all signed on with the new plan.
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news.goldseek.com >> 12 August 2009 |
Losing Money So Someone Else Can Make It
By: Richard Daughty, The Mogambo Guru
Lately, I sense a need for a change in my life, to get away from doing anything except working at what I think is my Real Mogambo Mission (RMM) here on this planet you call Earth, which is to eliminate the rule that losing a golf ball in play scores a penalty stroke.
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news.goldseek.com >> 11 August 2009 |
How Do You Like Your Books Cooked?
By: Richard Daughty, The Mogambo Guru
Even knowing that the economy is in a recession/depression, it is the kind of headline that grabs your attention: “Recession Worse Than Prior Estimates, Revisions Show” by Bob Willis at Bloomberg.com. “The first 12 months of the US recession,” he writes, “saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed.”
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news.goldseek.com >> 9 August 2009 |
The True Victims of Government Stupidity
By: Richard Daughty, The Mogambo Guru
An article on Bloomberg reported that US Treasury Secretary Timothy Geithner said, “The US unemployment rate may not peak until the second half of 2010, even as the broader economy shows signs of improvement.”
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news.goldseek.com >> 7 August 2009 |
Economy Mimics Global Climate Change
By: Richard Daughty, The Mogambo Guru
Thanks to Junior Mogambo Ranger (JMR) Joseph Z., who sent the Bloomberg article of the National Weather Service saying, “The high in New York City today is forecast to hover around 80 degrees, making it only the second time on record that June and July temperatures failed to reach 90,” which I take as proof that the world is not heating up, but instead is cooling down.
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news.goldseek.com >> 6 August 2009 |
GDP-US Debt Parity Approaches
By: Richard Daughty, The Mogambo Guru
The wife and kids are whining that I need to give them more money because things cost more. Usually I just ignore them or politely tell them something like, “Go to hell, ungrateful parasites!” lock myself in the Secure Mogambo Bunker (SMB) and peer at them through the periscope until they go away and/or shut up.
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news.goldseek.com >> 5 August 2009 |
Drinking Until the Economy Looks Good
By: Richard Daughty, The Mogambo Guru
I have, as part of my Official Mogambo Duties (OMD), spent many an evening at local bars, sampling various beverages and making goo-goo eyes at the barmaids while waxing loud and lyrical about the ludicrous extremes of fractional-reserve banking extant in the world today, a device where banks can loan out huge multiples of any money deposited, keeping only a fraction of the original deposit as reserves to insure against loans not being repaid.
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news.goldseek.com >> 4 August 2009 |
Urgent Update: The Gold Window is Still Closed
By: Richard Daughty, The Mogambo Guru
The month of August 1971 is significant in that this is the month when Richard Nixon told the world, “Kiss my Fat American But (FAB), world, because although we Americans promised to maintain the purchasing power of the dollar against which all other currencies can maintain their value, too, we lied when we said that we would exchange gold for dollars to insure that we did what we said we would! Hahaha!
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news.goldseek.com >> 2 August 2009 |
Golden Umbrellas in an Economic Downpour
By: Richard Daughty, The Mogambo Guru
I gotta admit that I am very jealous of Ambrose Evans-Pritchard, who is the international business editor of The Daily Telegraph, and who is famous and smart and probably makes a lot of money that he spends having fun with his many friends, while I am “none of the above” and pretty bitter about it, too.
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news.goldseek.com >> 31 July 2009 |
Golden Shelter from Falling Giants
By: Richard Daughty, The Mogambo Guru
I was reading Michael J. Panzner’s book When Giants Fall, a scary-yet-scholarly look at how the hell we got into this mess, and I was impressed with how the title When Giants Fall so perfectly describes America (the heretofore ravenous, gluttonous engine of global economics based on the fraud of an expanding fiat currency) falling on its fat, stupid face.
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news.goldseek.com >> 30 July 2009 |
US Debt: A Fist Full of Trillions
By: Richard Daughty, The Mogambo Guru
Bill Bonner here at The Daily Reckoning pretty much nailed the problem when he said that “During the 2001-2007 period, credit in the United States increased by $22 trillion. The nation’s GDP increased only by $4 trillion.”
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news.goldseek.com >> 29 July 2009 |
Fiscal Drops in the Bucket Deficit
By: Richard Daughty, The Mogambo Guru
I had just finished Final Lockdown Mode (FLM) here at Rancho Mogambo Bunker (RMB) and was starting to relax, or as much as a guy can relax when a guy is naturally skittish, paranoid and fearful and whose symptoms include rabidly obsessive total denunciation of the disastrous Federal Reserve for creating so much money, the traitorous Congress that allowed it so that it could deficit-spend the money, and the moron American voters that elected and re-elected and re-elected such loathsome, incompetent people to Congress.
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news.goldseek.com >> 28 July 2009 |
Don’t Trust Economists Over 30
By: Richard Daughty, The Mogambo Guru
The Economist magazine, also predictably and inevitably, does not comment on this Gem Of Mogambo Economic Wisdom (GOMEW), which is to buy gold, silver and oil on the advice of the last 4,500 continuous years of the world’s economic history, particularly as it pertains to fiat currencies and the trustworthiness of governments.
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news.goldseek.com >> 26 July 2009 |
The Truest Victims of the Economic Downturn
By: Richard Daughty, The Mogambo Guru
And speaking of inflation, the news must be Pretty Damned Bad (PDB), because inflation in prices was up, despite losses from massive inventory liquidations at fire-sale prices across the board as retailers and wholesalers scale down in response to the increasing bankruptcy of heretofore profligate American consumers and the weird, bloated, cancerous, government-centric economy that they seem to love.
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news.goldseek.com >> 24 July 2009 |
The Dumbing Down of Economics
By: Richard Daughty, The Mogambo Guru
There are those of you, whom I call “the overwhelming majority”, who are dissatisfied with my snotty-and-unshakable attitude about the price of oil, which I confidently predict will go up in price, a Fearless Mogambo Forecast (FMF) based on many, many things, the most important of which is the fact that I am a recklessly arrogant hothead who, unfortunately, is not as smart as...
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news.goldseek.com >> 23 July 2009 |
Spending Money to Make Ends Meet
By: Richard Daughty, The Mogambo Guru
So, this brings us neatly to the point of all of this, which is to buy gold right now, because you will not be able to shoot your way out of a situation where 20% of the army is shooting at you, regardless of what the salesman at the gun shop said when he sold you all of this ordnance.
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news.goldseek.com >> 22 July 2009 |
The Reality of Fictitious Jobs
By: Richard Daughty, The Mogambo Guru
The Bureau of Labor Statistics reported that 467,000 jobs were lost in June, bringing total non-farm employment down to 140.2 million, which, although bad, could have been worse, as I personally haven’t been fired yet, which is the only good news in the whole thing, as far as I can see.
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news.goldseek.com >> 21 July 2009 |
Financial Circulatory System
By: Richard Daughty, The Mogambo Guru
I was surprised to see that the government made $81.4 billion in cash out of papers, inks, and base metals in the last year, taking the total Cash in Circulation (essentially the M1 money supply) to $907.4 billion, whereas the M2 money supply is about $8.3 trillion (9 times larger) and (saving the best for last) the M3 money supply...
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news.goldseek.com >> 17 July 2009 |
The Silver Supply/Demand Imbalance
By: Richard Daughty, The Mogambo Guru
I try not to think about silver, because when I do, my head ends up whirling around at the sheer compelling nature of the fundamentals, and I always come to the conclusions that whirling makes me dizzy and that I need to buy more silver right away because silver is going to start exploding in price over the next few years...
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news.goldseek.com >> 15 July 2009 |
A Fine Time to Raise the Minimum Wage?
By: Richard Daughty, The Mogambo Guru
To show you the kind of idiocy that passes for economics, The Wall Street Journal, in a story about the imminent rise in the minimum wage from $6.55 to $7.25 an hour, notes that the Economic Policy Institute “estimates that the minimum-wage increase will add $5.5 billion to the economy” which makes me laugh – Hahaha! – in a mocking-yet-scornful way as my humble way of saying, “These guys are idiots!”
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news.goldseek.com >> 14 July 2009 |
IOU One More Piece of Paper Money
By: Richard Daughty, The Mogambo Guru
California has so degraded itself into a laughably Leftist socialist/commie-think nightmare that they have, as all socialist/commie-think countries always do, finally bankrupted itself. As Margaret Thatcher, erstwhile prime minister of England, once said, “The problem with socialism is that you eventually run out of other people’s money.” Hahaha! Exactly!
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news.goldseek.com >> 13 July 2009 |
Beginning With Economic Impossibilites
By: Richard Daughty, The Mogambo Guru
Total Fed Credit went down by $9.6 billion last week, which is, in comparison to their wild excesses of late, not that much, and certainly nothing to get excited about. Sort of like how my boss is unimpressed that she only got one letter last week, instead of the usual five, from disgruntled customers complaining about how I called them “morons” because they were not buying gold and silver in response to the government acting like monetary and fiscal idiots.
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news.goldseek.com >> 10 July 2009 |
A Master Stroke of Silver Manipulation
By: Richard Daughty, The Mogambo Guru
The point of all of this is that the Happy Days for the slimy insiders in the silver futures and options market, and those glorious days when you and I could buy ounce after ounce silver at these low, low, unheard-of low prices, are almost certainly all gone, now that the Senate has found willful corruption, and so the day will soon come when silver, free from the slimy manipulations of insiders that one could even argue violate the 14th Amendment, will rise, perhaps a dozen-fold, in price, re-establishing the 16:1 ratio of silver to gold, which will also be, almost certainly, up.
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news.goldseek.com >> 9 July 2009 |
Deflation Hawks Pray for Inflation
By: Richard Daughty, The Mogambo Guru
Just because I am safely and securely locked inside the Fabulous Mogambo Bunker (FMB) doesn’t mean that I am unaware of things, especially those things concerning inflation in consumer prices, which is the One Big Thing (OBT) to be feared above all others, even more than that paralyzing fear of someone seeing you doing you-know-what, especially when they see you doing you-know-what with you-know-who and the can of whipped cream, which you never did use, which is the one saving grace about the whole thing.
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news.goldseek.com >> 8 July 2009 |
Where No Bear Market Rally Has Gone Before
By: Richard Daughty, The Mogambo Guru
In short, all things end, including the phase where a national idiocy prevailed where everyone “invests for the long term” by putting all their money into stocks, bonds, houses, bigger government and an orgy of over-consumption, which is proven to be the wrong thing to do, and where people did not put their money in gold, which is the proven right thing to do, as even a Glornassian Crapworm knows.
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news.goldseek.com >> 7 July 2009 |
Money Tsunami Capsizes the Global Economy
By: Richard Daughty, The Mogambo Guru
I was surprised that Barron’s reported that the banks show their Total Reserves fell from $896 billion to $848 billion, which is a simple math problem that seems custom-made for my abilities in that regard.
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news.goldseek.com >> 2 July 2009 |
Silver Takes on Gold Supremecy
By: Richard Daughty, The Mogambo Guru
Mark at Northwest Territorial Mint suggests that instead of me always yammering about buying “gold, silver and oil”, maybe I should switch to “silver, gold and oil”, which he deems “might even merit an exclamation point” since silver should precede gold in the lineup since silver is probably the most astoundingly under-priced element on the face of the planet!
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news.goldseek.com >> 30 June 2009 |
The Ups and Downs of Money Supply Growth
By: Richard Daughty, The Mogambo Guru
I usually have a get “prepared” to visit John Williams at his famous shadowstats.com site so that I am “feeling no pain,” and this time I was happy I was, as his headline was “Inflation, Money Supply, GDP, Unemployment and the Dollar – Alternate Data Series”.
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news.goldseek.com >> 28 June 2009 |
All the Collateral that’s Fit to Print
By: Richard Daughty, The Mogambo Guru
I was really ready for a laugh when I read the Bloomberg article, “Derivatives Industry Gets Second Look From Congress.” To start off the festivities, it opens with a photo of the odious Christopher Dodd, the self-important arrogant loudmouth from Connecticut who milks the job for special “favors” and personal aggrandizement, actually chairs the House banking committee and, as a long-time member of Congress, is directly responsible for the economic catastrophe befalling us and the world, a sorry fact that I hope is a complete and utter embarrassment to the voters of Connecticut.
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news.goldseek.com >> 26 June 2009 |
Worthless Money from the US to Zimbabwe
By: Richard Daughty, The Mogambo Guru
I had been getting ready for the release of the latest totals of how much credit the damned Federal Reserve had created in the last week, and I am afraid that I overdid it a little. Prying open one bloodshot eye with a numbed finger, I looked at the number and saw that they had created another $29.4 billion in new credit last week! Which wasn’t all that much, in comparison to the records of new money they created in the last year!
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news.goldseek.com >> 24 June 2009 |
The Mysterious Omen that is ‘Divisor Change’
By: Richard Daughty, The Mogambo Guru
In Barron’s this week, they had a big notice, labeled “Divisor Change” pasted onto the chart of the Dow Jones Industrials Average, which leads off their Market Laboratory section. The notice was necessary since General Motors and Citigroup were taken out of the DJI index, while Cisco Systems and Travelers were added, and a difference in their capitalizations means that there must be a divisor change so that the index itself would not change as a result of the substitution. The new divisor is 0.132319125, which is different than the old divisor, which was 0.125552709.
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news.goldseek.com >> 23 June 2009 |
Nightmarish Financial Numbers
By: Richard Daughty, The Mogambo Guru
Minyanville.com had the headline, “Velocity of Money Comes to a Standstill.” The report starts off with the news that “Current consumption, which at $8.2 trillion is around 70% of GDP, has fallen $150 billion from last year,” and that investment, which represents things like building factories, is $1.3 trillion or 11% of GDP, and down 23.3% from last year.”
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news.goldseek.com >> 22 June 2009 |
Solar Powered Economic Downturn
By: Richard Daughty, The Mogambo Guru
If you are one of those people who thinks that the Earth revolves around the sun and that the sun has important implications for life on earth, then I know that you are not a government employee, as everyone from the president, to the Congress, right on down to the municipal employee whose miserable job it is to clean up the filthy toilets after the government employees have messed them up, all think that they can overcome any obstacle – man-made, natural or wrath of a supernatural force – if only given more money in their salaries and budgets.
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news.goldseek.com >> 19 June 2009 |
The Euphoric High of Government Spending
By: Richard Daughty, The Mogambo Guru
I gotta admit that I am confused by lots of things, like how come if my kids hate it here so much, why don’t they run away from home and save us all a lot of aggravation? And then there is my confusion over the Bloomberg.com report that “Brazil and Russia joined China this week in saying they would shift some $70 billion of reserves into multicurrency bonds issued by the International Monetary Fund.” Huh?
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news.goldseek.com >> 18 June 2009 |
Trusting Banks as Far as You Can Throw Them
By: Richard Daughty, The Mogambo Guru
I was kind of dozing, idly dreaming of playing golf, where if I wasn’t putting the ball right into the cup from 25 feet away, then I was chipping it in from 25 yards out, wowing the crowd with deft wedge action, whereupon my caddy, a beautiful girl in a bikini and stiletto heels, would say, “Oooh! Nice one! You are so good that it gets me hot! I am panting for you, my Hot Mogambo Golfing Stud (HMGS)!”
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news.goldseek.com >> 17 June 2009 |
Purchasing Gold as a Product of Plagiarism
By: Richard Daughty, The Mogambo Guru
My latest sure-fire, money-maker idea is to sue Yu Yongding, former bigshot with the Chinese central bank, for plagiarism, as he is the guy who said that “If the US can find a way to protect China’s assets, America’s standing here will increase.”
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news.goldseek.com >> 16 June 2009 |
Chinese Laughter the Sound of US Stupidity
By: Richard Daughty, The Mogambo Guru
The winner of the Mogambo Award For Most Imbecilic Statement Of The Month (MAFMISOTM) comes from a Financial Times article where we read that Tim Geithner, whom I ungraciously call (with a sneer and a voice dripping with a tone of Pure Mogambo Contempt (PMC)), the “rat-like Treasury Secretary of the United States,” tried to convince China that “the US would do what was necessary to bring its budget under control.” Hahahaha!
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news.goldseek.com >> 14 June 2009 |
The Unmistakable Stench of Bad Fiscal Policy
By: Richard Daughty, The Mogambo Guru
I keep marveling at the Financial Times article talking about Angela Merkel, the German chancellor, breaking tradition and ridiculing central banks and their idiotic monetary policies.
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news.goldseek.com >> 12 June 2009 |
It’s All Funny Money
By: Richard Daughty, The Mogambo Guru
The column I wrote last week about the gold content of the Krugerrand versus the Austrian Philharmonic was, it seems, a mistake, and I am really embarrassed. For some reason, I always remember that the Krugerrand (a coin that is 91% gold) always sold for less money than pure-gold coins like the Austrian Philharmonic, and so I was surprised to see that they are now selling at the same price, leading to an incorrect conclusion and a stupid column.
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news.goldseek.com >> 11 June 2009 |
Standing at the Gates of Economic Hell
By: Richard Daughty, The Mogambo Guru
Since being recently stung by my own poor research, bad work habits, a faltering memory and a complete lack of concern, I feebly try to make amends by precisely looking at a $2.7 trillion contraction in available credit, and then mentally comparing that to the $14 trillion in total GDP of the Whole Freaking Country (WFC) and saying, with Typical Mogambo Inexactitude (TMI), “That’s a lot!”
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news.goldseek.com >> 10 June 2009 |
An Economy at the End of its Rope
By: Richard Daughty, The Mogambo Guru
And since inflation is the thing I most fear, I knew that I needed money, and fast. So I spent most of the week setting up Step One of my plan, which involved setting up a fall-guy using the DaVinci Code method to find the words “Danny in accounting will loot the employee pension fund” somewhere in the Bible, but it was pretty much a bust.
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news.goldseek.com >> 9 June 2009 |
Stepping on the Commodities Gas Pedal
By: Richard Daughty, The Mogambo Guru
Oil has, finally, started to rise again, having been down below the breakeven point of pumping it, as they, too, have all kinds of rising costs like everybody else, as well as pension programs and myriad, large governmental entitlement programs to pay for.
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news.goldseek.com >> 5 June 2009 |
The Gold Bull Market and the Fed it Rode In On
By: Richard Daughty, The Mogambo Guru
I thought that as part of the new Mogambo Program To Stop Freaking Out (MPTSFO) and maybe get some sleep that is not disturbed by screaming at nightmares of the horrors of inflation and economic ruin that are the just desserts of an America that has now embraced ignorance, stupidity and sloth as virtues, I had turned off the alarms in the Mogambo Bunker (the MoBu) that were connected to the circuits monitoring the creation of bank credit by the Federal Reserve.
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news.goldseek.com >> 4 June 2009 |
The Unfortunate Adventures of Long-Term Investors
By: Richard Daughty, The Mogambo Guru
Junior Mogambo Ranger (JMR) Michael S. called to make sure I got the new Department of Labor report that says it is beginning on work that “Reforms the Unemployment Insurance System” to “make the UI program a more responsive and effective social safety net and economic stabilizer,” which I assume means higher unemployment insurance premiums for businesses, making them raise their prices, so that the government can hand out more unemployment insurance money.
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news.goldseek.com >> 3 June 2009 |
Economic Extinction of the Least Financially Fit
By: Richard Daughty, The Mogambo Guru
I was settling down with a little microwave pizza as I was watching the YouTube.com video that was featured at InformationClearingHouse.info, titled “The REAL Maverick: Present Economy Worse Than Depression” which was an interview with Nassim Nicholas Taleb and Benoit Mandelbrot.
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news.goldseek.com >> 2 June 2009 |
The Dangers of an Exploding Money Supply
By: Richard Daughty, The Mogambo Guru
With all the trillions of dollars of new money being deficit-spent by the federal government, not the least of which is the mind-boggling $1.84 trillion in new deficit-spending that the Obama administration and Congress have conspired to enact and spend This Freaking Year (TFY), it is at least amusing to know that we taxpayers are paying taxes for nothing! Hahaha! Paying taxes for nothing!
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news.goldseek.com >> 1 June 2009 |
The Reliable Money Supply Spigots
By: Richard Daughty, The Mogambo Guru
Foreign central banks, proving that they are just as stupid and corrupt as I thought they were, continue to buy American Treasury and agency debt with both hands, and their holdings stashed at the Fed jumped a big $26 billion last week as a result!
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news.goldseek.com >> 29 May 2009 |
Yuan to Jump on the Golden Bandwagon?
By: Richard Daughty, The Mogambo Guru
Maybe the fact that central banks, banks and governments around the world are acting like monetary idiots explains why gold is shooting up in price; or maybe that it is going up in price explains why there is such a new interest in gold; or maybe it just explains why people are as disrespectful of the dollar, as am I.
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news.goldseek.com >> 28 May 2009 |
Growing Accustomed to Fed Stupidity
By: Richard Daughty, The MOGAMBO GURU
I knew that gold was doing okay, but I did not know how well exactly, although I knew that gold bullion was up about 3.5% from this time last year, which is better, and by a long shot, than almost anything else you can name, but which is not, I admit, very much.
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news.goldseek.com >> 27 May 2009 |
China Offers the IMF and Indecent Proposal
By: Richard Daughty, The MOGAMBO GURU
This preposterous P/E ratio is caused by the earnings of the companies in the S&P 500 index dropping to a miniscule $7.21 per share (down from the 2007 high of over $84 per share!) at the same time as there are so many complete morons willing to pay $882 a share! Hahaha! Morons!
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news.goldseek.com >> 26 May 2009 |
The Only Two Reasons to Own Gold
By: Richard Daughty, The Mogambo Guru
I always get a real kick out of hearing that “the consumer is 70 percent of the economy,” mostly because it gives me a chance to heap ridicule and scorn on whoever said it, and I say that the consumer is 100 percent of the economy!
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news.goldseek.com >> 25 May 2009 |
The Sharpened Sticks of Quantitative Easing
By: Richard Daughty, The Mogambo Guru
I am proud to announce that I am the winner of the Mogambo Guru newsletter’s famous and much-anticipated “Name The Era Contest” – a task made easier by the fact that I just invented the contest and mine was the only entry.
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news.goldseek.com >> 22 May 2009 |
The Beginnings of the Bottom?
By: Richard Daughty, The MOGAMBO GURU
I despise Alan Greenspan more than all others (which is saying a lot, as I think most Earthlings are pretty damned stupid!), and it is he that I ungraciously characterize as the most obviously mentally ill, low-IQ, delusional lowlife scumbag on the face of the planet because he is directly responsible for every economic and financial problem...
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news.goldseek.com >> 21 May 2009 |
The “Hollywood Star” Method of Economic Prosperity
By: Richard Daughty, The MOGAMBO GURU
I took one last shot of bourbon as an essential anesthetic before I dared venture to that foul den of evil incarnate known as the Federal Reserve, and I am glad I did! I realize that I should be numb to these sick excesses of the Federal Reserve, but I am not sure that I will ever become numb to, for example, last week’s stunning $75 billion increase in Total Fed Credit, which is, literally, the fabled “money from thin air” of story and song.
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news.goldseek.com >> 20 May 2009 |
Delusions of Endless Credit
By: Richard Daughty, The MOGAMBO GURU
James Howard Kunstler, famous author and speaker, opines, “For now, the ‘bottom’ is in” which took me completely by surprise! I mean, how could anybody in their Right Freaking Mind (RFM) think that “the bottom is in” as far as the economy is concerned?
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news.goldseek.com >> 19 May 2009 |
BLS Has One Letter Too Many
By: Richard Daughty, The MOGAMBO GURU
The big news, of course, is that the Bureau of Labor Statistics at the Department of Labor reported that non-farm payroll employment continued to fall in April, and 539,000 jobs were lost, which probably explains why they later note that “Overall, private-sector employment fell by 611,000” and that “the unemployment rate rose from 8.5 to 8.9 percent.”
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news.goldseek.com >> 17 May 2009 |
Quantitative Rising Demand for Silver
By: Richard Daughty, The Mogambo Guru
If you are one of the people who write to me and question my consistent advice to buy gold, silver and oil (“Dear Mogambo, You’re an idiot, which means that you are probably wrong about gold, silver and oil, too! (signed) A guy who can recognize idiots from a mile away”), and who must think that oil will remain low forever, think again:
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news.goldseek.com >> 15 May 2009 |
The Long and Short of Bonds and Gold
By: Richard Daughty, The Mogambo Guru
John Stepek at Money Morning notes that Neils C. Jensen, in The Absolute Return Letter, reports that “using IMF statistics drawn from previous banking crises…the 12 most industrialised countries (including the US, UK and Japan) could need to issue a total of $33 trillion in debt to cover the costs of the crisis. And that’s not even a worst-case scenario – that’s based on the average rise in public debt in the three years following a banking crisis.”
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news.goldseek.com >> 14 May 2009 |
A Sobering Look at Gold Investing
By: Richard Daughty, The MOGAMBO GURU
I looked around the barroom and said, “The gold exchange on the Comex is a den of lying, thieving, corrupt bastards who are in cahoots with the lying, thieving, corrupt banks and the lying, thieving, corrupt government!”
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news.goldseek.com >> 13 May 2009 |
Inflation and the Mass Confusion to Follow
By: Richard Daughty, The MOGAMBO GURU
This massive creation of money and credit will lead to a lot of inflation in consumer prices sooner or later (mostly sooner, and for a long time, too!), because that is what always happens, which explains why I have gold and guns, but does not explain why I wear an aluminum foil hat.
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news.goldseek.com >> 12 May 2009 |
Selling Shorts Out Naked in the Cold
By: Richard Daughty, The MOGAMBO GURU
In a bit of good news, NyTimes.com had the headline “Goodbye to Naked Shorting” by Floyd Norris. He reports that it looks like “naked shorting – the practice of selling shares short without borrowing them – is almost gone.”
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news.goldseek.com >> 10 May 2009 |
Gold in the Face of Government Stupidity
By: Richard Daughty, The MOGAMBO GURU
“Gold Isn’t Going To $2,000 An Ounce” is both the headline and the announcement of Jeff Clark at CaseyResearch.com, a conclusion he apparently reached after he “decided to take a fresh look at calculations that could be used to appraise gold’s upside potential.”
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news.goldseek.com >> 8 May 2009 |
Financial Death by Gold Deficiency
By: Richard Daughty, The MOGAMBO GURU
If you are like me, then you realize the importance of gold and understand the relative unimportance of things like family, friends, coworkers, community and career, none of which are needed when you have a lot of money because you spend all your time having a wonderful, wonderful time, and the only communication you have with any of those vampires sucking the last of your will to live from your dry, drained soul is to say to them, “Tell it to my lawyer!”
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news.goldseek.com >> 7 May 2009 |
Surprised by Money Destruction
By: Richard Daughty, The MOGAMBO GURU
I was pretty surprised that Total Fed Credit fell by a gigantic $81.5 billion last week, taking the total down to $2.088 trillion – but not THAT surprised, since the Federal Reserve has acted so despicably that I am hardly surprised at anything they do anymore, including a huge drop in Fed Credit, even though the Federal Reserve itself bought up $22 billion in various crap last week!
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news.goldseek.com >> 6 May 2009 |
When Fresh Money Goes Rotten
By: Richard Daughty, The MOGAMBO GURU
Economist Robert P. Murphy at the blog Free Advice must have heard me screeching with Total Mogambo Disrespect (TMD) about Congress and Obama deficit-spending almost $2 trillion this year, and he says, “If fiscal policy is a disaster, monetary policy is even worse.”
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news.goldseek.com >> 5 May 2009 |
The Killing of a Worthless Currency
By: Richard Daughty, The MOGAMBO GURU
All of our economic problems are caused by the Federal Reserve creating the excess of money and credit that produced the bubbles in stocks, bonds, houses and size of government, but doesn’t have to be electronic money made from electronic credit.
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news.goldseek.com >> 3 May 2009 |
U.S. Dollar Stuck Between Supply and a Hard Place
By: Richard Daughty, The MOGAMBO GURU
As I look at the pile of bills on my desk – each of them for amounts always marginally higher than they have ever been (since prices are higher than they have ever been and getting higher Every Freaking Day (EFD)) – I can’t help but reflect that our whole Sorry Economic Mess (SEM) is caused by people not paying their debts by borrowing more money with which to pay their debts...
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news.goldseek.com >> 1 May 2009 |
The Limits of Economic Garbage
By: Richard Daughty, The MOGAMBO GURU
I was pretty sloshed as I put another shot of tequila to my now-benumbed lips, but the same thought kept going through my whirling head: Total Fed Credit (also referred to as Federal Reserve Credit), zoomed $70.3 billion last week! Yikes! $70.3 billion of new credit appeared, as if by magic, in the accounts of banks in One Freaking Week (OFW)!
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news.goldseek.com >> 30 April 2009 |
China Stockpiles the “Perfect Money”
By: Richard Daughty, The MOGAMBO GURU
I was amused by the Reuters headline “China Admits to Building Up Stockpile of Gold” – although it kind of took me by surprise that they bought about 600 tons of gold without telling anyone since 2003, growing their stash by 75% since then.
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news.goldseek.com >> 29 April 2009 |
Economic BBQ on the Credit Default Spit
By: Richard Daughty, The MOGAMBO GURU
Addison Wiggin, as part of an advertisement for the new Richebächer Letter, reminded us that “Last holiday season was the slowest in four decades” which is bad news, of course, but it does explain how come I got so few Christmas presents 40 years ago, a time from which I am still carrying a grudge against Santa Claus for the flashy Harley chopper I never got, even though I asked for one every freaking year.
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news.goldseek.com >> 28 April 2009 |
Worthless “Officials” Sell Off Precious Gold
By: Richard Daughty, The MOGAMBO GURU
Gold is thus functioning perfectly, as it retains its value when everything else has turned to crap, and yet here is some “official” of the worthless World Bank looking us right in the eye and saying they want to get rid of it all! Wow! What numbskulls!
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news.goldseek.com >> 26 April 2009 |
Overly Expensive Low-Rent Health Premiums
By: Richard Daughty, The MOGAMBO GURU
My eyes fell upon the opening sentence, as I thought that the New York Post was asking a comical question, “How absurd is the price of health care in New York City?” which I thought would be followed by a comical retort, such as, “So high that it makes you sick!” Hahaha!
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news.goldseek.com >> 24 April 2009 |
Taking Liberties with Price Stability
By: Richard Daughty, The MOGAMBO GURU
Paul Volcker, the legendary former chairman of the Federal Reserve who heroically defeated a raging inflation, against powerful political opposition, which was the result of massive government spending in the ’60s and ’70s on wars and increased entitlement spending, and who is now mysteriously part of the ridiculous Obama team of economic nitwits occupying in the White House, has finally said something!
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news.goldseek.com >> 23 April 2009 |
Marooned on an Island of Debt by Greenspan’s Money Flood
By: Richard Daughty, The MOGAMBO GURU
As usual, I put on an adult-sized diaper and my tinfoil hat in careful preparation to look at the change in Total Fed Credit last week, and it is a good thing I did, too, because the Federal Reserve (as expressed in their secret motto “We Are Evil”) created, out thin air, $29 billion new dollars in bank credit! Wow!
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news.goldseek.com >> 22 April 2009 |
Silver Taste. Base Metal Money.
By: Richard Daughty, The MOGAMBO GURU
Dominic Frisby of MoneyMorning.com writes, “According to Jeff Christian of commodities research firm CPM Group, investors bought 70m ounces of silver in 2007; 100m in 2008; and based on current trends, they’re on track to buy 180m ounces in 2009.”
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news.goldseek.com >> 21 April 2009 |
Demand for Gold is in Mint Condition
By: Richard Daughty, The MOGAMBO GURU
This is where I stand up, look around, and make crude and rude farting sounds to express my complete disbelief that people are not buying gold, silver and oil against this kind of monstrous expansion of the money supply; a behavior which I have promised to no longer do at the dinner table, either at home or someplace else, ever again.
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news.goldseek.com >> 19 April 2009 |
Monetary Lab Experiments on Inflation
By: Richard Daughty, The Mogambo Guru
Bloomberg.com reports that Janet Yellen, president of the San Francisco Fed bank, says, to my complete disbelief, “For some time to come, disinflation, and even deflation, will represent greater risks than inflation.”
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news.goldseek.com >> 17 April 2009 |
The National Debt and the U.S. Selling Spree
By: Richard Daughty, The MOGAMBO GURU
Merely looking at the expression of profound disbelief on my Disbelieving Mogambo Face (DMF) and the sheer terror shining in my eyes lets you know that something is seriously, seriously wrong, and what is wrong is that this $956.8 billion half-year federal financial deficit – alone! – is more than the entire monetary base of the United States of one year ago ($826.9 billion)!!!
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news.goldseek.com >> 16 April 2009 |
Recession Plays the Inflation Fighter
By: Richard Daughty, The Mogambo Guru
The Census Bureau released its estimates of retail and food services sales for March, which they “adjusted for seasonal variation and holiday and trading-day differences, but not for price changes” which is too bad since I don’t feel right unless I have something to be angry about, and I am angry about the Federal Reserve creating so much new money and credit that it will allow the Congress to deficit-spend almost $2 trillion this year alone...
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news.goldseek.com >> 15 April 2009 |
Drawing Blood From Anemic Taxpayers
By: Richard Daughty, The Mogambo Guru
The worst part of the problem is, of course, that people seem, astonishingly, to agree that the purpose of government is to constantly enact new laws and expand entitlement spending. I don’t know where they got that stupid idea, but what happened for half a century was, as we see, disastrous.
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news.goldseek.com >> 14 April 2009 |
Golden Shorts in an Economic Winter
By: Richard Daughty, The MOGAMBO GURU
Now, before I go off ranting and raving about how another bunch of scumbags perpetrated another scam with compliance from government scumbags, let’s concentrate on the important fact that not only are a bunch of guys buying gold and demanding delivery of the actual metal, but now increasing demand has swamped supply! Amazing!
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news.goldseek.com >> 12 April 2009 |
The Means of Surviving Price Inflation
By: Richard Daughty, The Mogambo Guru
Some readers helpfully write that they have detected a new pessimism in recent Mogambo Guru newsletters, not to mention a serious decline in writing quality and a big increase in Valueless Mogambo Stupidity (VMS), which they cheerfully enlighten me about with emails such as...
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news.goldseek.com >> 10 April 2009 |
“We the People” Who Prefer Deflation
By: Richard Daughty, The Mogambo Guru
Patrick J. Buchanan, writing at amconmag.com, asks “Should We Kill the Fed?” which is such a good idea that I herewith volunteer to forthwith do the job as soon as my embarrassingly huge salary and benefit package is finalized.
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news.goldseek.com >> 9 April 2009 |
Employed and Unemployed Both Feel the Pinch
By: Richard Daughty, The MOGAMBO GURU
It ain’t really news that employment is falling along with the economy falling off a cliff because everybody is up to their freaking eyebrows in debt and people and businesses are naturally reluctant to be rushing out to borrow more money will-nilly to spend more, and more, on more and more Cheap Consumer Crap (CCC), and businesses sure don’t need a lot of employees to make or sell less stuff.
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news.goldseek.com >> 8 April 2009 |
No Gold. No Silver. Just Inflation and Hotcakes.
By: Richard Daughty, The MOGAMBO GURU
I’ll bet that if the foreign exchange markets don’t know that the currency of a nation of fiscal and monetary idiots was “a negative for currencies”, then I guess that they also don’t know that gold and silver, when priced in the currencies of fiscal and monetary idiots, will soar as the currency falls in buying power, which is so elementary that I am shocked that they are that stupid!
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news.goldseek.com >> 7 April 2009 |
Useless Currencies of the World Unite!
By: Richard Daughty, The Mogambo Guru
My brain went into some kind of weird spasm when Zhou Xiaochaun, head of the People’s Bank of China, went on record as saying that he doesn’t trust the dollar to be the world’s reserve currency anymore, and wants, instead of gold, the International Monetary Fund to expand the supply of Special Drawing Rights (SDRs), which is just another stupid fiat currency, to use as the world’s reserve currency! Gaaahhhh!
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news.goldseek.com >> 5 April 2009 |
No Debt Left Behind
By: Richard Daughty, The Mogambo Guru
Over at Whiskey & Gunpowder, an essay by Don Stott of coloradogold.com reveals that we are more alike than we thought, in that he, too, is “astonished at the credulity and unabashed total economic illiteracy of the American and even the world’s public. We’re headed for hyperinflation, with prices of everything going through the roof, and America is buying stocks rather than gold and silver?”
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news.goldseek.com >> 3 April 2009 |
Dinosaur Economists and their Paper Currency
By: Richard Daughty, The MOGAMBO GURU
It all seems so weirdly surreal when federal deficit-spending exceeds 14% of GDP, which doesn’t even include the 7% of GDP that is the “balanced part” of the federal government’s budget!
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news.goldseek.com >> 2 April 2009 |
The Foul Stench of Rotten Economic Theory
By: Richard Daughty, The MOGAMBO GURU
I am known throughout this galaxy as a guy who “gets things done” with the still-experimental Mogambo Insulting Method Of Pedantry (MIMOP), whereby I instruct pupils in the subtleties of the True Mogambo Way (TMW) by insulting them, mostly by easily ridiculing their intelligence by merely casually noting that none of them own gold and silver...
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news.goldseek.com >> 1 April 2009 |
Credit-Based Money System and the Plight of Un-rich Peons
By: Richard Daughty, The MOGAMBO GURU
George Ure of UrbanSurvival.com writes that the magic of just pounding money into the economy doesn’t seem to be working this time, and it reminds him of “the old engineering/design flow-chart joke that went around about 20-years back that had a place in the engineering process labeled ‘Insert Miracle Here’.” Hahaha! Good one!
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news.goldseek.com >> 31 March 2009 |
Gasoline on the Money Supply Fire
By: Richard Daughty, The MOGAMBO GURU
Agora Financial’s 5-Minute Forecast conveniently distills the Truly Horrifying News (THN) of recent Federal Reserve action by saying, “In a single breath, the Fed committed another $1.15 trillion to the credit quagmire” with “$750 billion for purchasing mortgage-backed securities from Fannie Mae and Freddie Mac (on top of the $500 billion the Fed has already promised)” plus “Another $100 billion directly toward Fannie and Freddie’s debt. That’s also atop a pre-existing $100 billion program.”
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news.goldseek.com >> 30 March 2009 |
U.S. Government Buys Hypocrisy With Fiat Currency
By: Richard Daughty, The MOGAMBO GURU
Doug Noland of PrudentBear.com has found all kinds of interesting things this week, especially if you enjoy heart palpitations and crushing chest pains, which is what you get when you read Mr. Noland reporting that “The M2 (narrow) ‘money’ supply surged $39.8bn to a record $8.343 TN (week of 3/9)” which means, “Narrow ‘money’ has now inflated at an 18% rate over the past 25 weeks and $766bn over the past year, or 10.1%”! Yikes!
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news.goldseek.com >> 22 March 2009 |
Quantitatively Easing into a Stupid Idea
By: Richard Daughty, The Mogambo Guru
The most popular question that I get asked these days is still the perennial favorite, “Is there something wrong with you that makes you sound stupid?” (Answer: yes), but the second most popular question is, “What’s next?” to which I reply, “Time for dessert! And if not, then time for a snack of high sugar and low nutritional value of some sort! And ditto a beverage!”
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news.goldseek.com >> 20 March 2009 |
Solid Gold Advice for Chinese Economists
By: Richard Daughty, The MOGAMBO GURU
In case Mr. Wen Jaibao wants to know how much of a rise in price inflation that will follow such a rise in the money supply, I will tell him, “I have no idea, but (in keeping with mixing up Eastern philosophies with religions), I have a riddle for you, Wen, baby: ‘What is the sound of one hand clapping when the hand is burned to a cinder with two red-hot pokers instead of just one red-hot poker?’“
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news.goldseek.com >> 19 March 2009 |
Stupid Ideas that Drag Down Consumer Spending
By: Richard Daughty, The Mogambo Guru
We have, I assume, entered into some kind of parallel universe, mental illness, bizarro-world Economic Stimulus Package From Hell (ESPFH) that makes me howl in paralyzing fear, shouting “This can’t be happening! We’re freaking doomed!”
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news.goldseek.com >> 18 March 2009 |
There’s No Place Like Gold
By: Richard Daughty, The Mogambo Guru
I was captivated by the Wall Street Journal headline “Bearish Big Investors Catch Gold Bug” by Gregory Zuckerman, because I don’t ever expect to see anything favorable about gold in the WSJ since it is concerned primarily with providing information and news about stocks and bonds so that you will be motivated to constantly buy and sell stocks and bonds.
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news.goldseek.com >> 17 March 2009 |
The End of the Dividend Fallout
By: Richard Daughty, The Mogambo Guru
There are a lot of stockholders who buy stocks for the dividends that they pay, which is supposed to be one of THE major reasons why people buy stocks in the first place, and it makes sense… Why would you buy a business if you never got any money out of it?
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news.goldseek.com >> 15 March 2009 |
‘Going Galt’ is a Futile Fad
By: Richard Daughty, The Mogambo Guru
So, if you think that the federal government needs your stupid tax money or that you can hurt them by working less, then I laugh – Hahahaha! – at the very concept! The Fed can, literally, create unlimited amounts of credit in the banks, which becomes unlimited amounts of money, with which to buy unlimited amounts of Treasury debt so that the government can spend unlimited more amounts of money than it collects in taxes!
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news.goldseek.com >> 13 March 2009 |
Trade Deficit Steals Private Sector’s Wallet
By: Richard Daughty, The Mogambo Guru
I was at the bar, having a social drink and explaining to the usual crowd of drunken morons how the Federal Reserve has destroyed the purchasing power of the dollar by their insane over-creation of money and credit and that is why things always cost more and more, when the room started spinning and my head suddenly fell forward in a drunken coma.
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news.goldseek.com >> 12 March 2009 |
Nowhere at Best – Wiped Out at Worst
By: Richard Daughty, The MOGAMBO GURU
The Bureau of Labor Statistics of the U.S. Department of Labor came out and confirmed what everybody already knew; people are losing their jobs at a terrifying clip – which makes me wonder how long it will be before I get fired, too, and I wish that I had more gold, silver, oil and armaments with which to ward off those people who do NOT have gold, silver and oil...
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news.goldseek.com >> 11 March 2009 |
Attack of the Debt Mobs
By: Richard Daughty, The MOGAMBO GURU
I am so outraged at this that I say we ought to rise up in outrage and rush to our telephones, where operators are standing by to take your order for “Mogambo Brand” Mob Supplies (MBMS), including not only the popular Mogambo Flaming Torch (MFT) and Mogambo Long-Tine Pitchfork (MLTP)...
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news.goldseek.com >> 10 March 2009 |
Dividend Drop-Off: When Cushions Turn to Rocks
By: Richard Daughty, The MOGAMBO GURU
I thought that my eyes were playing tricks on me, but it looked like the earnings of the S&P Industrials Index went down last week, plummeting to $65.86 from $85.90 the week before, all of which probably explains why the Wall Street Journal reports that railroads “have seen shipping volumes drop by double-digit percentages in recent months”, and that “the nation’s five largest railroads have put more than 30% of their boxcars – 206,000 in all – into storage.” Yikes! A third less volume!
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news.goldseek.com >> 8 March 2009 |
Neo-Keynesians Draw Laughter from Surrounding Planets
By: Richard Daughty, The Mogambo Guru
The bad news is that the National Association of REALTORS announced that existing-home sales plunged 5.3% in January, and that, even more worrisome, 45% of the houses sold were of “distressed properties.”
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news.goldseek.com >> 6 March 2009 |
Golden Butter on Inflation Toasted Dollars
By: Richard Daughty, The Mogambo Guru
There are obviously a lot of differences between me and damned near everybody else, one of which is that I spend a lot of time screaming in outrage about the stupidities of Congress (spendthrift morons and their half-witted commie/socialist absurdities) and the Federal Reserve (for creating too much money and credit, with which to buy the Treasury debt necessitated by Congress’s continual, crazy, catastrophic deficit-spending).
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news.goldseek.com >> 5 March 2009 |
The U.S. Financial System: A Flimsy House of Paper Promises
By: Richard Daughty, The MOGAMBO GURU
Junior Mogambo Ranger (JMR) Phil S. sent me the essay titled “Government: A Successful Failure” by Robert Anderson, erstwhile professor of economics at Hillsdale College and executive secretary of FEE, and posted at LewRockwell.com.
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news.goldseek.com >> 4 March 2009 |
U.S. Taxpayers: The Few. The Proud. The Unprofitable.
By: Richard Daughty, The MOGAMBO GURU
There are many things that scare me in this world, but none is more horrendous than the short extrapolation that came out a few years after government debt went from 78% of GDP in one year to 100% the next.
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news.goldseek.com >> 3 March 2009 |
A Government of Spendaholics
By: Richard Daughty, The MOGAMBO GURU
The catastrophe of such a thing like that happening kind of dazed me with a sort of petrifying fear, and the next thing I knew they were talking about the federal budget deficit, too, and that the deficit for 2009 “is now estimated at between $2 trillion and $3 trillion, give or take a few hundred billion.”
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news.goldseek.com >> 1 March 2009 |
Confidence in Asian Benevolence
By: Richard Daughty, The Mogambo Guru
The Conference Board’s index of consumer confidence declined to the lowest level since they started collecting data in 1967, which is why Bloomberg.com reported that “Confidence among U.S. consumers plunged to a record low in February, signaling spending will slump further as unemployment soars.”
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news.goldseek.com >> 27 February 2009 |
Optimism in the Face of Inflation
By: Richard Daughty, The MOGAMBO GURU
I thought I was still asleep and merely dreaming when I opened up Barron’s and saw that the earnings of the S&P 500 dropped to $28.75, which is down from last week’s $45.95, which is down from last year’s $78.80.
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news.goldseek.com >> 26 February 2009 |
Go Ahead, Make My Money
By: Richard Daughty, The MOGAMBO GURU
Total Fed Credit, otherwise known as Federal Reserve Credit, ballooned by a huge $76.9 billion last week, taking the Fed’s total “help” to the scumbag banks to a nice, cool $1.9 trillion, of which a whopping $56 billion gob of the money created last week by the Fed was used by the Fed itself to buy Treasury securities for itself! Hahaha! What a scam!
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news.goldseek.com >> 25 February 2009 |
The Devastating Chaos of Financial Butterflies
By: Richard Daughty, The Mogambo Guru
Gerald Celente, founder and director of the Trends Research Institute opines, “To be using 1930s models to get the U.S. out of this is really stupid. Back then when we first crashed, most people didn’t have homes. There was no such thing as home equity loan. And back then, people didn’t have credit cards. The consumer wasn’t 14 trillion dollars in debt. We had a manufacturing base that built the world out of the Great Depression following World War Two. We no longer have that.”
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news.goldseek.com >> 24 February 2009 |
Gold in the Art of Bread Consumption
By: Richard Daughty, The MOGAMBO GURU
And with universal participation, because all currencies will fall due to over-issuance, everybody in the whole world is going to jealously watch their neighbors and relatives making profits by buying gold and holding it against the guaranteed loss of buying power of their money! Wow! Everybody in the world!
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news.goldseek.com >> 22 February 2009 |
Gold: Finding Honest Money in the Midwest
By: Richard Daughty, The MOGAMBO GURU
An article by Ambrose Evans-Pritchard in the Telegraph had the headline, “If Eastern Europe falls, world is next”, which I take to be a new domino theory, as the domino theories I am used to, run along the lines of, “If anything happens to America, everybody else is freaking toast!” and the more personal, “If anything happens to the cookies in my lunchbox, Mogambo, you are a dead man!”
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news.goldseek.com >> 20 February 2009 |
Chinese Fiat Coupons
By: Richard Daughty, The MOGAMBO GURU
An easy way to increase the money supply is by counterfeiting money, or its equivalent, by printing coupons, and this is now being done by the Chinese, as we learn from the report titled “Chinese Offered Consumer Tickets” by Olivia Chung at atimes.com.
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news.goldseek.com >> 19 February 2009 |
The Government-Based Economy
By: Richard Daughty, The MOGAMBO GURU
Using my time constructively, I am standing here, still seething about the corruption of the Congress and the Federal Reserve and plotting my revenge as I wait for him to take his argument to the next step and say that since we have a fiat currency, a corrupt Congress and a complicit Federal Reserve, then let’s really get this thing in gear!
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news.goldseek.com >> 18 February 2009 |
Financial Contracts and the Lying Liars Who Create Them
By: Richard Daughty, The Mogambo Guru
The Economist magazine innocently asks, “Why is finance so unstable?” Immediately, I jump to my feet to scream my guts out that, “It’s because the amount of corruption is, like it always is at the end of long booms, completely off the freaking charts, and nothing is as it seems; everybody is lying to you; everybody is trying to steal your identity and you are being ripped off every freaking day, in countless ways, by corrupt thieving morons in government who are so, so desperate at this point that they are resorting to insanity!”
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news.goldseek.com >> 17 February 2009 |
An Edifice of Pure Economic Crapola
By: Richard Daughty, The MOGAMBO GURU
Benn Steil, who is on the Council of Foreign Relations and an editor of an economics journal, is writing in the Financial Times, see, and his essay has the catchy headline “Keynes and the Triumph of Hope over Economics”, which is so terrifically profound and funny at the same time that I laughed out loud, which was unfortunate, as I had just taken a big bite of a yummy chilidog and it sprayed all over the place as a result of my mighty guffaw.
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news.goldseek.com >> 16 February 2009 |
Buy American: Protection From Yourself
By: Richard Daughty, The Mogambo Guru
Unbelievably, the abject stupidity of protectionism, in this case the so-called “Buy American” protectionism, is now resurfacing after all these decades of everything “going global” so that now the stupidity of protectionism is even more glaringly stupid since the globe has grown into a huge, incestuous, corrupt labyrinth interwoven with...
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news.goldseek.com >> 14 February 2009 |
A Sobering Look at Gold Investing
By: Richard Daughty, The MOGAMBO GURU
I looked around the barroom and said, “The gold exchange on the Comex is a den of lying, thieving, corrupt bastards who are in cahoots with the lying, thieving, corrupt banks and the lying, thieving, corrupt government!”
A Sobering Look at Gold Investing
By: Richard Daughty, The MOGAMBO GURU
I looked around the barroom and said, “The gold exchange on the Comex is a den of lying, thieving, corrupt bastards who are in cahoots with the lying, thieving, corrupt banks and the lying, thieving, corrupt government!”
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news.goldseek.com >> 13 February 2009 |
SOS: Suffocating On Spending
By: Richard Daughty, The MOGAMBO GURU
Voluminous police reports through the years chronicle my wailing and screaming in fear, often far into the night, as neighbors and family complain until the police come by the house in their squad cars to investigate, like I am so stupid that I don’t know enough to shut up when I see them coming! Morons!
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news.goldseek.com >> 12 February 2009 |
Silver and Gold Will Make You More Attractive
By: Richard Daughty, The MOGAMBO GURU
SilverForecaster.com announces that “silver has done well” recently, as far as its price is concerned, which is almost certainly explained by the old demand-versus-supply market-clearing pricing mechanism, which means that since the price went up, then demand must be up, too, and more than supply is up; or it means that supply is down more than demand is down; or it means something else entirely, maybe, since I have seemingly confused myself.
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news.goldseek.com >> 11 February 2009 |
Don’t Pay Your Debt: A Page from the Fed’s Playbook
By: Richard Daughty, The MOGAMBO GURU
Frosty Wooldridge, writing at NewsWithViews.com, has the same kind of attitude I do, and has titled a recent essay, in all-capital letters, “BAILOUTS: A COMPLETE FRAUD AGAINST THE AMERICAN WORKER” which is certainly attention-getting… But, alas, lacks the requisite proper punctuation, which in this case I judge to be two exclamation points, at least. Probably three.
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news.goldseek.com >> 8 February 2009 |
Unemployment Figures, Right Between the Eyes
By: Richard Daughty, The Mogambo Guru
So the Big Freaking Question (BFQ) is: How long before the hyperinflationary phase about which I have been yammering begins – bringing back up the prices of stocks, bonds and houses so that the moronic government can once again wallow in a sea of tax receipts? Hahahaha!
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news.goldseek.com >> 6 February 2009 |
Inflation Took My Medication
By: Richard Daughty, The MOGAMBO GURU
The Harper’s Index had the interesting entry, “Percentage by which the $750 billion bailout exceeds the total U.S. GDP of a century ago, adjusted for inflation: 50.” Naturally, I am confused as to what in the hell this actually means since there are so many variables, including traveling through time, and it looks like it means that the GDP of a century ago was an inflation-adjusted $500 billion, but that involves math, and so I can’t be sure of anything.
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news.goldseek.com >> 5 February 2009 |
U.S. Recession: Is the End Nigh?
By: Richard Daughty, The MOGAMBO GURU
Frank Holmes at USFunds.com writes, “When it comes to the global economy, there’s a huge surplus of bad news and there’s a good chance that more is coming” – so much so that “Positive indicators are in short supply” which he qualifies by saying, “but there’s a good chance that more of these are coming, too.”
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news.goldseek.com >> 4 February 2009 |
Sound Money Falls on Deaf Paper Ears
By: Richard Daughty, The MOGAMBO GURU
James Turk of GoldMoney.com has penned “Restoring Sound Money in America”, which makes me cry out in despair when one considers the fraud of the Federal Reserve’s constantly increasing amounts of fiat currency and credit, a corrupt and complicit Congress that condones it, a despicable Supreme Court which allows it all (by negating Article 1, Section 10 of the Constitution mandating that gold will be money), and the legions of people (Wall Street, Congress and the bankers) to whom a sound, non-inflating currency means the end of their loathsome, corrupt businesses and speculative excesses.
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news.goldseek.com >> 3 February 2009 |
Retail Sales Gobbledy-Gook
By: Richard Daughty, The MOGAMBO GURU
From census.gov we get the news that retail and food services sales were down a huge 2.7% in December compared with sales in November, and sales were down “9.8 percent below December 2007.”
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news.goldseek.com >> 1 February 2009 |
Deficit Spending and the Credit You Rode In On
By: Richard Daughty, The Mogambo Guru
The AP news service reports that “The federal government already has run up a record deficit of $485.2 billion in just the first three months of the current budget year”, which is “more than four times the $108.8 billion in red ink recorded during the year-ago period.”
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news.goldseek.com >> 30 January 2009 |
Debt-Addled Coconuts on Gilligan’s Island
By: Richard Daughty, The MOGAMBO GURU
I was halfway through a pitcher of cheap beer when I began to have visions. I thought that a pretty girl at the end of the bar was flirting with me, but that turned out to be wrong when I heard her tell the bartender that she thought I was “creepy.”
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news.goldseek.com >> 29 January 2009 |
Money Creation, Tim Geithner and the Thin Air in Between
By: Richard Daughty, The MOGAMBO GURU
There was a photo of Tim Geithner, the former Governor of the Federal Reserve Bank of New York who is going to be the next Treasury Secretary of the USA, on the front page of the Financial Times last Thursday, and it is spooky in several ways.
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news.goldseek.com >> 28 January 2009 |
Bad News For Those Who Like Food
By: Richard Daughty, The MOGAMBO GURU
Always being on the lookout for inflation is part of The Mogambo Way (TMW), as there is nothing else that can destroy a society faster than a lot of angry people who cannot afford to buy food for themselves or their hungry children, and after awhile the incessant whining and crying of hungry babies gets on the nerves of the adults both in the room and for blocks around until, suddenly, one day, something just snaps and there is Hell To Pay (HTP).
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news.goldseek.com >> 27 January 2009 |
Patching Up the World With Golden Glue
By: Richard Daughty, The Mogambo Guru
The word 'Gaaaahhh!' escapes my throat, as all of this was BEFORE all the new promises of massive new deficit spending! Trillions of dollars of federal deficit spending per year, for years and years and years into the future! Again, 'Gaaaahhh!'
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news.goldseek.com >> 25 January 2009 |
Canceling the Debts of Greedy Pigs
By: Richard Daughty, The Mogambo Guru
In this case, the debts of greedy pigs are being cancelled by the government giving them their money back by buying worthless assets, a scam wherein we define the term 'greedy pigs' as 'all of us.'
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news.goldseek.com >> 23 January 2009 |
Shining Your Bank Account with a Liquidity Buffer
By: Richard Daughty, The MOGAMBO GURU
'Strategic priorities' are, of course, 'Keeping this thing going as long as possible so that I can keep this job where I spend a lot of my time goofing off and finagling to get the most money and benefits for myself', but what is a 'liquidity buffer'?
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news.goldseek.com >> 22 January 2009 |
Golden Eggs in the Hard Times Cafe
By: Richard Daughty, The MOGAMBO GURU
It took a moment for it to sink in that things are going to be 'hard', and that we will have to 'do right' to prove our character. When it did, I thought to myself, 'It's worse than we thought! We're freaking doomed!'
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news.goldseek.com >> 21 January 2009 |
Golden Sanity Amid Fits of Fiscal Madness
By: Richard Daughty, The MOGAMBO GURU
And as the bust continues, gold always becomes MORE valuable as everything else turns to crap and the government starts destroying everything with fits of fiscal madness in its insatiable quest for more money, more money, more money!
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news.goldseek.com >> 20 January 2009 |
A World of Financial Freeloaders
By: Richard Daughty, The MOGAMBO GURU
And then, as another benefit of giving money to people, I thought of older people who've had their damned grown children move 'back home' to live with them, all crammed into the one house, sometimes dragging their kids along…
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news.goldseek.com >> 18 January 2009 |
Government Gone Insane
By: Richard Daughty, The Mogambo Guru
It's just too bad that government workers are a deadweight loss, as they produce no profit from their labors with which to pay their bloated salary and benefits packages, and they produce profit-lowering costs for those who must obey their commands, sort of a lose-lose situation.
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news.goldseek.com >> 16 January 2009 |
What Can You Buy With 50 Billion Zimbabwe Dollars?
By: Richard Daughty, The MOGAMBO GURU
The biggest banknote in Zimbabwe is worth only enough to buy two lousy, stinking loaves of bread! Fifty billion Zimbabwe dollars for two loaves of bread!
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news.goldseek.com >> 15 January 2009 |
No Taxation Without Inflation
By: Richard Daughty, The MOGAMBO GURU
In the meantime, if you are like me - who is like Peter Finch's character in the movie Network - then you are either at, or near the point where you are standing in the street, screaming, 'I am as mad as hell and I'm not going to take this anymore!'
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news.goldseek.com >> 14 January 2009 |
There's Always Opportunity in Crisis
By: Richard Daughty, The MOGAMBO GURU
I know there is opportunity, just like I know you ruined my life! That is why I am buying gold, silver and oil at these ridiculously low prices, so that when they soar…I will be rich, rich, rich!
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news.goldseek.com >> 13 January 2009 |
The Troubled Asset Pension Fund
By: Richard Daughty, The MOGAMBO GURU
I hastily scrapped all the other 'it ain't my fault' defenses…and now…I immediately declared my little department to be a bank, and plowed all of the employee pension fund money into it as shareholders of the bank.
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news.goldseek.com >> 11 January 2009 |
World Record Debt! Somebody Call Guinness!
By: Richard Daughty, The MOGAMBO GURU
But this new spending is, of course, entirely predictable, as this is what has always been done by all other bankrupt, brain-dead corrupt governments on this planet in the past 4,500 years that had racked up so much debt that they collapsed.
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news.goldseek.com >> 9 January 2009 |
Interest Rates Have "One Too Many"
By: Richard Daughty, The MOGAMBO GURU
Apparently, the horrifying news of negative interest rates does not register with these morons; the bartender went back to talking to the pretty girl at the end of the bar, and the other barfly customers were flipping those little beer-stained cardboard coasters at me saying, 'Shut up!'
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news.goldseek.com >> 8 January 2009 |
The U.S. Dollar: A Federal Reserve Thingy
By: Richard Daughty, The MOGAMBO GURU
And this, together with the economic disaster that is already out there, only proves the utter, utter failure of the Federal Reserve to 'preserve the value of the dollar', which is their freaking mission in life. Morons!
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news.goldseek.com >> 7 January 2009 |
Fed Refuses to Trade Secrets
By: Richard Daughty, The MOGAMBO GURU
Unfortunately, while I am exactly like the Federal Reserve in that we are both total, complete failures at our jobs, mostly through sheer stupidity, the repercussions are quite different.
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news.goldseek.com >> 6 January 2009 |
Steady Diet of Chinese Currency
By: Richard Daughty, The MOGAMBO GURU
Well, egg rolls or not, pretty soon everybody is going to have more egg rolls, as the Chinese are engaging in massive stimulus spending, too, just like we and everyone else are…
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news.goldseek.com >> 4 January 2009 |
Fixing the Unemployment Outlook
By: Richard Daughty, The Mogambo Guru
Hell, at that rate, I'll personally hire 5 or 6 people right now, full-time, to get my yard, trees and shrubberies in shape, wash and wax the cars, and do all of that fixing, painting and replacing of broken, leaking or noisy crap around the house…
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news.goldseek.com >> 2 January 2009 |
Silver Runs for Sanitation Commissioner
By: Richard Daughty, The Mogambo Guru
The good news is not only that I don't own any public facilities that have garbage disposal or HVAC liabilities, but also that both of these nightmares are solvable by silver, which is already in less supply than the demand can satisfy…
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news.goldseek.com >> 31 December 2008 |
No Lag When Indicating Inflation
By: Richard Daughty, The Mogambo Guru
And the reason is that the Lagging Indictor with its inflation detector attributes has been rising faster than the other two for as long as I can remember without doing the actual work to look it up.
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news.goldseek.com >> 30 December 2008 |
Illustrating How the Dollar Gets Whacked
By: Richard Daughty, The Mogambo Guru
In the last 7 years, the dollar has fallen 33% according to the dollar index, which has fallen from 120 to 80, which is actually up as the dollar has exploded back 15%, rising from 72 to 83, in the year.
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news.goldseek.com >> 26 December 2008 |
A Government of People-Eaters
By: Richard Daughty, The Mogambo Guru
And it is especially worrisome now that the government's monumental Social Security, Medicare and Prescription Drug Coverage problems would be solved if all of us old people suddenly died.
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news.goldseek.com >> 24 December 2008 |
Loaned, Sold, and Gone… But Still Owned
By: Richard Daughty, The Mogambo Guru
I realize, too late, that accounting was not the long suit of the audience, so I say, 'The guy to whom you loaned your car turned around and sold your car, kept the money, and you still think that you have the car? Hahahaha!'
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news.goldseek.com >> 23 December 2008 |
A Novel Approach to Debt Management
By: Richard Daughty, The Mogambo Guru
What? A $2 trillion federal budget deficit? In a $13 trillion national economy? Gaaahhhh! When the trade deficit is running at almost $900 billion a year? Double gaaahhhhh!
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news.goldseek.com >> 21 December 2008 |
Economic Pseudoscience
By: Richard Daughty, The Mogambo Guru
So, since all the world's currencies are now fiat currencies, and they can all be easily inflated by infinite amounts until they are as worthless as a Zimbabwean dollar, thus they are all equally as safe and ultimately as valuable, too!
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news.goldseek.com >> 19 December 2008 |
Are You Smarter than a Bond Trader?
By: Richard Daughty, The MOGAMBO GURU
Pardon me for interrupting today's Stupid Mogambo Rant (SMR) with my laughing…but every time I think of some bozo buying 30-year Treasury debt at a price that is so high that the bond then yields a teensy-weensy 3% or so for 30 freaking years, I have to laugh when I think of such blinding stupidity!
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news.goldseek.com >> 18 December 2008 |
Collapse and Ruination from Gluttonous Growth
By: Richard Daughty, The MOGAMBO GURU
If $2.8 trillion has been lost, then how much of this lost money that came into existence when it was first borrowed from a bank, is still owed to a bank? Or the shadow banking system?
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news.goldseek.com >> 17 December 2008 |
No Rest for the Unemployed
By: Richard Daughty, The Mogambo Guru
Oddly enough, there is no statistical offset for people like me, who are the nation's over-employed, which is to say we are chronically lazy, worthless and undependable louts who SHOULD be unemployed, but who actually have jobs!