Did you know that the Fed (10.8%) now owns of the debt than China (8%)? We are now running the country’s finances like the Weimar Republic; printing money to pay current operating expenses. And the folks in D.C. are getting rich…Maseratti sells more $250,000 cars there than anywhere else in the country.
Obama’s inauguration (coronation?) reminds me of the vision of an 18th century English King riding in his gilded carriage with all the footmen and mounted guards while the throngs of paupers and boys in rags gleefully wave at the spectacle.