“I used the praying mantis metaphor in my recent investment outlook pointing out that there are consequences for mindless political thrusting and Washington spending policies.We as Americans eventually lose our heads the way a male mantis does in the process of reproduction. Americans’ answer to a bulging deficit seems always to be manana. Debt commission recommendations are always dead on arrival, bipartisan compromises result in no tax increases for anyone and an increase in $500 to $800 billion in the fiscal deficit. The point is the current and future generations of American mantises, male or female, will pay for this in terms of a price. They pay for in a number of ways. One in terms of dollar depreciation going forward. And two in terms of lower real wages and lower real interest rates, which are a cost for investors.” Read more »