Today, President Obama signed the American Recovery and Reinvestment Act into law in Denver. The final version was 132,974 words, cost $787 billion dollars, and the amended version was passed in a matter of days. The picture above says what I think – this is going to destroy the dollar. Inflation will continue to rise and even speed up. Before you know it, you will be better off burning dollar bills to keep warm than using the dollar bills to pay for natural gas heat. It is about time to pick a better medium of exchange than fiat currency (Federal Reserve Notes) backed by the “full faith and credit of the United States Government.” Want a stable currency?
The irony of the photo above is that if the government was burning money, the currency would essentially deflate. Luckily for us (not) the government is creating more money, which lowers the purchasing power of each dollar.
3 responses to “Day 48 – ARRA Signed Into Law”
As always Chuck, great post. I’m always so impressed to read how you disagree with something and not resort to an ad hominem fallacy or any fallacy for that matter. Congrats on being fair and level headed. I guess a radio show host post is not in your future.
Great photo! The focus and flames are wonderful.
Couldn’t you get in trouble for burning legal tender like this? I really like the picture, nonetheless.