Monday, May 16, 2011

American tag sale

Conservative economists have suggested selling off America's bric-a-brac -- a kind of tag sale that might ease the debt burden. Sell the gold in Fort Knox, sell the interstate road system, sell the utilities, Grand Canyon ... sell the stuff that's just sitting there, not doing much. One critic called the suggestion "a conservative's wet dream."

Even assuming the plan got off the ground, I have a hard time imagining who might or might be able to buy such assets. Somehow I imagine that the same people who brought us the latest Depression would be standing in line and salivating.

The idea of selling the gold at Fort Knox does serve as a kind of reminder in my mind ... money is a belief system whose beliefs we ignore at our peril.

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