We avoided the "fiscal cliff", but we dug the canyon deeper. What can't go on forever, won't, but you might be surprised how long it can go on. Unfortunately, when it does stop, the stop is abrupt and catastrophic. To understand this all one needs to do is read any simple book on the history of money.

Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats. H. L. Mencken