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The French originally came up with this idea, and their term is "théâtre de l'absurde"...theater of the absurd. What better way to describe the current political atmosphere of the U.S.?
If you search the term "Theater of the Absurd", you'll find a Wikipedia page. From that page, I've taken this:
"The plays focus largely on ideas of existentialism and express what happens when human existence lacks meaning or purpose and communication breaks down. The structure of the plays is typically a round shape, with the finishing point the same as the starting point. Logical construction and argument give way to irrational and illogical speech and to the ultimate conclusion—silence."
With that in mind, how can you not describe the current and ongoing "debt ceiling" debate as anything but Theater of the Absurd?
- the entire process lacks meaning or purpose
- the finishing point is the same as the starting point
- includes irrational and illogical speech
And with that, here are today's latest entries:
Oh, the debt-driven angst of the R-republocrats who never once stood in the way of exponential debt growth when they were in charge:
Oh, the horror and self-righteous rage of the D-republocrats who control BOTH houses of the U.S. Congress yet still can't seem to pass the necessary legislation:
Is this not "irrational and illogical speech where the finishing point is the same as the starting point"?
And, all the while, the total debt keeps growing. It's now nearly $30,000,000,000,000 with over 10% added to that total in just the past twelve months!
So, look, I know that COMEX gold prices are down in 2021 and it has been a very frustrating year for holders of precious metal. However, price does not always indicate value, and the VALUE of my physical precious metal has never been higher.
The madness of the politicians and the insanity of the monetary policy needed to keep their fiscal schemes afloat will, one day, become universally recognized. Until then, I will continue to stack physical precious metal as I await the eventual and inevitable collapse of The Great Keynesian Experiment.