NY Debt Devaluation, Budget Collapse; Not If, But When

First,  from Arithmetic for the Economically Challenged Idiots:

Present Federal Debt : $13.7 Trillion
The Federal Reserve plans to print:  $0.6 Trillion
Net devaluation of US dollars: $0.6/$13.7 = 4.4%
If the Chinese don't want to lose money:  4.4% must be added to any NY interest rates 
 
Second, from Alan Greenspan:   Greenspan warns over weaker dollar   (see 4.4 % devaluation above)

Now, hear Timmy Geithner. "saying it [US Government] would never deliberately devalue its currency to boost exports."

Now think: Qui s'Excuse, s'Accuse  Or, Geitner, your excusing, accuses you.  Is the Government not deliberately devaluing, only undeliberately devaluing?

Quo Vadis, NY?  Quo Vadis, Cuomo?   Read the two earlier posts below

Andrew Cuomo Meets "The Ghost Of NY Yet To Come"; Was It Thomas Dewey?

Last night, Andrew was visited by the Ghost of NY Yet To Come.

 

      Last night, a Ghostly figure, who looked like a groom figurine with a mustache on a wedding cake, appeared to Andrew and showed him 2011 Newspaper clippings where all the NY Budget predictions in a prior post had come true.  Andrew then was carried to Seoul, South Korea, where he read the next day's headline in Financial Times, "China tees up G20 showdown with US."   Andrew heard China's Cui Tiankai say, "that the US plan for limiting current account surpluses and deficits to 4 per cent of gross domestic product harked back “to the days of planned economies”.

        Now the Ghost of NY Yet To Come carried Andrew into many varied homes of rich and not-so-rich NYer's.   Andrew saw each cringing at finding their tax- free NY municipal bonds had diminished in value because of the interest rate increase of  231% due to Obama/Federal Reserve printing money.   He saw the calculations were written on all their walls, 100% divided by 231% = 43% and saw they were crying at the new 57% ( 100% -43% = 57%) lower value of their tax-free bonds.  He saw all these angry tax-free bond holders packing up to leave NY, while cursing Andrew who destroyed their income protection.  "A pox on Andrew and them all. Where will Andrew get any money when we leave," they snickered. 

         Then, another ghostly figure appeared.   He heard that apparition say I'm the Ghost of Arnold of California Past.    And grinning, the ghost picked from the mantle top a large vessel inscribed Trophy of Total Fiscal Failure  and handed it to Andrew.  The Ghost of Arnold of California Past  then gave Andrew a  Bill in the the ghost's name for $40 million dollars a day borrowed to pay unemployment insurance, and said to Andrew, "this too will haunt you."
         The Ghost of Arnold of California  laughingly said, "I had only $80 billion in General Obligation Debt and you had $120 billion and a whole lot less people to spread it among."   The ghost kept laughing and said, "my State was described as the Lindsay Lohan of States, but yours will fare worse as the John Belushi of States."

       Andrew turned to the Ghost of NY Yet To Come with his mustache and said, "you look familiar."  The Ghost replied, "I was a former Governor and Prosecutor."   Andrew asked, "why do I dread you so?"  "I'm the harbinger of the your new tormentor, who will rise in my former role."  And the Ghost of NY Yet To Come carried Andrew back to his bed passing over endless angry crowds screaming, "He's impoverished us." .


       Andrew awoke sweating. A Pox? Was that Thomas Dewey? Was he just imagining that he saw pitchforks? Oh, no, there's the Trophy of Total Fiscal Failure.