Remember how we used to hear Republicans pull out their favorite phrase "tax cuts" all the time. Whatever else was going on, they seemed to be able to make everyone smile by promising tax cuts.
Like children of a lazy parent who starts taking the kids for ice-cream all the time, the public somehow got used to get the idea that neverending tax cuts were a birthright. The need to pay for tax cuts did not need to be considered. Mr. Cheney was quoted: "Ronald Reagan proved that defecits don't matter."
There you have it. It's been proved.
Well, it seems that the kids are not responding well enough to the ice-cream and they want lots of chocolate to go with their ice cream these days, and the new political junk-food drug of choice seems to be "low interest rates".
Keeping interest rates low appears to be more than an economic decision, but now has joined "tax cuts" to be a political decision.
The world appears bent on making the resulting dollar collapse be as smooth and painless (for themselves) as possible, but folks it appears that the age of cheap stuff is coming to an end. As the world starts to realize that the United States has essentially defaulted on the concept of repaying debt, the price of all those stupid things I buy will start to go way up...and as everyone knows my happiness totally depends on a continued supply of stupid things I can buy.
I'm sorry, but I'm an artist not an economist. So part of me looks forward to the day when a delusion disolves into the reality of unsustainability. It just seems healthier that way.