OBAMA'S 'TAX THE RICH' GUARANTEES ECONOMIC DISASTER IN ITS PRESENT FORM!

Math Wins

WalMart was out with earnings this morning, missing on the top line (revenue) but managing to do the usual “beat it by a penny” game with Wall Street. The forward look, however, was downbeat — for the holiday quarter. The company said: “Current macroeconomic conditions continue to pressure our customers,” Chief Financial Officer Charles Holley said in the statement. “The holiday season is predicted to be very competitive, but we are well prepared to deliver on the value and low prices our customers expect.” The “Money Fairy”, that is, deficit spending and/or monetary games such as QE are exactly identical to a tax on the economy. Again (and I’m going to keep pounding this into people’s heads until I start hearing it on CNBS!) if you have 10,000 units of output (e.g. oranges, gallons of gasoline, cars, etc) and there are 10,000 units of currency and credit in total available in the economy to be used, the exchange rate is 1:1.