If the title of this piece sounds vaguely familiar, you have probably listened to the Beatles' Abbey Road at some point in your life, or were a regular listener to a quality classic rock station that played more than just their #1 hits.But I believe it is an apt description of a credit-based, government-run monetary system. You can eat your cake while riding the merry-go-round, and when it swings by the bake-sale table, grab the pole with one hand, and with the other, reach out and grab another piece. You can have all the cake you want - it's reserved for you at the bake sale table - and, therefore, you can eat all the cake you want. "You can have your cake and eat it, too." Don't ask where it came from, just have faith that there will always be more. The Cake-and-eat-it-Carousel.
And what if eating all the cake while riding around in circles makes you barf? There's a solution to make you feel better: more cake! And more rides on the merry-go-round!
James Leroy Wilson's one-man magazine.
Thursday, October 09, 2008
Cake-and-eat-it Carousel
This is my latest at the Partial Observer. Excerpt:
Labels:
economics,
Money,
Partial Observer
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