Posted on 12/11/2011 11:43:29 AM PST by appeal2
David Knox Barker in an article Two Roads out of the Global Financial Crisishttp://www.marketoracle.co.uk/article32045.htm believes that if only the politicians will behave just a little bit and make some of the right decisions, the world can escape the current crisis and enter a period of unequaled prosperity. He quotes Robert Frost’s epic poem, The Road Not Takenas some kind of model for governmental action around the world. However, Mr. Barker fails to understand that there were many opportunities to travel down the road of economic salvation and that the United States and the World blew by them like Jeremy Clarkson in tricked out Ferrari Enzo going around the Nurburgring Track.
Now there are only two options and neither of them have a positive outcome. Governments can stop printing and watch their economies disintegrate overnight or they can continue their current course of action and keep printing new currency units and try to paper it over. The outcome of unbridled currency production is inflation leading to hyper-inflation and the destruction of all savings and the middle class. If there’s a more palatable choice, no economist or politician has yet hit upon it, but we certainly wish them luck.
Stop inflating the currency; cut government spending; end bailouts — let failing companies (and currencies) fail; dramatically reduce taxes and regulation; balance the budget. This can be turned around.
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