The effect of the Federal Reserve’s quantitative easing, recently ended, and the European Central bank’s program, just beginning, is that more money is circulating.  So far inflation has been absent in the U.S. while the  fear of deflation motivated the European bank’s action.  But, inflation will appear if  GNPs do not grow quickly enough to absorb the newly generated spending power.  Inflation, if uncontrolled, steals buying power from the residing currency.

(To the tune of “The Trolley Song,” by Hugh Martin & Ralph Blane, from the 1944 film “Meet me in St. Louis, performed by Judy Garland).

Whisk, whisk, whisk hum the printers.
Crisp, crisp, crisp flow the bills.
Circulating new dollars.
Giving bankers the willies and chills.

Up, up, up rise the prices.
Down, down, down falls your worth.
If this keeps up, my advice is,
Buy a seat on a rocket from earth.

They print a five.
They print a ten.
They’d print a billion dollars
if they had the yen.

Our pockets bulge.
The public spends.
Bringing inflation.
You know where the spiral ends.

Jail those brash counterfeiters.
Sweep those bills off the street.
One thought gives me the jitters

When we learn what they’ve done
and we find that no one
wants our cash.

To the banks we will dash.
To discover a guard at the gate
who will state
“You’re too late,
out of luck.”
That’s the end of the buck.

Lyric © 2015 by Robert S. Steinberg, Esquire
All rights reserved


(To the tune of, “South of the Border,” by Jimmy Kennedy & Michael Carr (1939))

Down in Havana, in Cuba today
The cabbies drive classic cars.
Beneath the stars
Along the Bay.
The chicks, sly and tempting.
The men there to play.
Down in Havana, in Cuba today.

Obama is saying, let’s open the town.
Time to forgive the past,
The rum goes fast
When you’ve sorrows to drown.
Meanwhile, Fidel is smiling, and Raul seems so gay.
Down in Havana, in Cuba today.

First the mob made a deal with Batista
El-Presidente’ wore a green sash.
Cause for dollars he’d sell you his sister.
Throw in his brother for hard cash.

Up in Miami, you’ll hear people say
“Bring back democracy,”
But history, didn’t go quite that way
For they’ve had other dictators
Castro’s a replay.
Down in Havana, in Cuba today.

© 2014 by Robert S. Steinberg, Esquire
All rights reserved