Sherman and Mr. Peabody
ksammut
Posts: 1,074 ✭✭✭
Mr. Bernanke requested a meeting with Sherman and Mr. Peabody (if you are too young, google Sherman and Mr. Peabody). After some pleasantries, Mr. Bernanke said, “We need your help. Can we have access to your WABAC (way back) machine? We have a terrible debt problem in this country and we need to go back in time and fix things.” Mr. Peabody said, “I was afraid that is why you asked to meet with us. The WABAC machine is not working but I did bring this invention I created in the late 50s. There was not much use for it back then but you may find it helpful.”
Mr. Bernanke asked what does it do? Mr. Peabody said, “it determines how much money would be needed to pay off all treasury debt holders (both domestic and abroad), fully fund social security for all men, women, and children for the next 90 years, fund all state, local, and corporate pensions, and determine how much is needed to bring mortgages out of default. “
Mr. Bernanke was impressed and asked if they could turn on the machine and let him know how much of a financial hole the country was in. Mr. Peabody asked Sherman to push the button and within seconds, they had their answer. Sherman read, “we would need $50 Trillion to take care of all the obligations we spoke about.”
Mr. Bernanke picked up the phone and called the President. “Mr. President, this is Ben and I have some news for you. We need $50 Trillion to solve all of our problems. If I can digitally print $50 trillion more, we can solve all of our financial problems at once. Mr. Bernanke went on to tell the President that he would like to pay off all the government debt, fund social security and the pensions, and shore up the mortgage mess.
The President asked but where is the $50 Trillion going to come from? Mr. Bernanke said we would simply print it out of thin air as that he was getting very good at doing that and once we paid off the debt and funded the programs, we would simply write all $50 Trillion owed off the books since we would owe the $50 Trillion to ourselves. Since he knew the President loved basket ball, he then said, "no harm no foul."
The President thought for a minute and said, “that sounds like a plan to me. If you need me, I will be on the golf course. Give my best to Ann. Hope she got that stolen identity thing worked out.”
I write this fictional post to bring a smile but how fictional is it? We are printing more money than can ever possibly be paid back while “intelligent men and women (economists, financial advisors, and the media) barely give it the attention it deserves.
What say you?
Ken
PS Sherman and Mr. Peabody were given full Presidential Immunity. Mr. Bernanke is still waiting to hear, from the President, about his immunity.
Mr. Bernanke asked what does it do? Mr. Peabody said, “it determines how much money would be needed to pay off all treasury debt holders (both domestic and abroad), fully fund social security for all men, women, and children for the next 90 years, fund all state, local, and corporate pensions, and determine how much is needed to bring mortgages out of default. “
Mr. Bernanke was impressed and asked if they could turn on the machine and let him know how much of a financial hole the country was in. Mr. Peabody asked Sherman to push the button and within seconds, they had their answer. Sherman read, “we would need $50 Trillion to take care of all the obligations we spoke about.”
Mr. Bernanke picked up the phone and called the President. “Mr. President, this is Ben and I have some news for you. We need $50 Trillion to solve all of our problems. If I can digitally print $50 trillion more, we can solve all of our financial problems at once. Mr. Bernanke went on to tell the President that he would like to pay off all the government debt, fund social security and the pensions, and shore up the mortgage mess.
The President asked but where is the $50 Trillion going to come from? Mr. Bernanke said we would simply print it out of thin air as that he was getting very good at doing that and once we paid off the debt and funded the programs, we would simply write all $50 Trillion owed off the books since we would owe the $50 Trillion to ourselves. Since he knew the President loved basket ball, he then said, "no harm no foul."
The President thought for a minute and said, “that sounds like a plan to me. If you need me, I will be on the golf course. Give my best to Ann. Hope she got that stolen identity thing worked out.”
I write this fictional post to bring a smile but how fictional is it? We are printing more money than can ever possibly be paid back while “intelligent men and women (economists, financial advisors, and the media) barely give it the attention it deserves.
What say you?
Ken
PS Sherman and Mr. Peabody were given full Presidential Immunity. Mr. Bernanke is still waiting to hear, from the President, about his immunity.
American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.My Numismatics with Kenny Twitter Page
Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
0
Comments
1) pay it off
2) default on it
3) inflate your way out of it.
It's obvious which one the US Fed has taken.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>As everyone knows, there's three ways to deal with a debt:
1) pay it off
2) default on it
3) inflate your way out of it.
It's obvious which one the US Fed has taken. >>
Number 1?
<< <i>
<< <i>As everyone knows, there's three ways to deal with a debt:
1) pay it off
2) default on it
3) inflate your way out of it.
It's obvious which one the US Fed has taken. >>
Number 1?
No,
Let's try #3.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>I just got a copy of the best of sherman and mr peobody AND fractured fairy tails >>
Chumley,
Are there any Tennessee Tuxedo and Chumley on that DVD? I remember Peabody's Improbable History came on during the Rocky and Bullwinkle Show. I am pretty sure Mr. Peabody used the acronym (WABAC) Machine but pronounced it WayBack Machine. I do not remember if he ever said what the acronym stood for?
Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
<< <i>
<< <i>
<< <i>As everyone knows, there's three ways to deal with a debt:
1) pay it off
2) default on it
3) inflate your way out of it.
It's obvious which one the US Fed has taken. >>
Number 1?
No,
Let's try #3. >>
So your part of the problem? Haha. I pay my debt off. Actually, I dont have any debt. Everything is paid for already.
<< <i>
<< <i>
<< <i>
<< <i>As everyone knows, there's three ways to deal with a debt:
1) pay it off
2) default on it
3) inflate your way out of it.
It's obvious which one the US Fed has taken. >>
Number 1?
No,
Let's try #3. >>
So your part of the problem? Haha. I pay my debt off. Actually, I dont have any debt. Everything is paid for already. >>
The OP was talking about Bernanke.
My initial response was referring to him and the US Fed, not you and I.
I'm very pleased to hear that you are like me...debt free.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>As everyone knows, there's three ways to deal with a debt:
1) pay it off
2) default on it
3) inflate your way out of it.
It's obvious which one the US Fed has taken. >>
No it's not.
1) The Fed can't pay off the national debt because it doesn't owe the debt. The U.S. government owes the debt. (The Fed has obligations of its own, but that's another matter.)
2) The Fed can't default on the national debt because it doesn't owe the debt. (See above.)
3) The Fed can't inflate its way out of the debt because it can only print money by increasing its own debt, usually by buying more government debt. No matter how much money it prints, the Fed cannot become debt-free or make the government debt-free.
The three choices above apply to the U.S. government directly, not the Federal Reserve. The two are not synonymous.
My Adolph A. Weinman signature
I was listening to Dennis Miller earlier, and he seems to think that California is really going to be a problem, soon.
I knew it would happen.
Link
My Adolph A. Weinman signature
Link
Overdate, thanks for bringing this up. Ron Paul SHOULD be made chairman of the House Subcommittee for Domestic Monetary Policy and Technology this time. We should all make note of those proceedings in January when they come up for consideration.
I knew it would happen.
people. There will not be enough food at affordable prices to maintain their bulk.
Camelot
Camelot
<< <i>Tea Party members unite behind Ron Paul!!!!!!!!! >>
RP 2012.