Posted on 03/19/2009 10:05:12 AM PDT by governsleastgovernsbest
That’s Erin Burnett holding up a $100 billion Zimbabwe bill. It will buy you about three eggs. Could the USA be on the road to becoming the next Zimbabwe? Very doubtful. But the threat of high inflation is very real, and that’s what prompted Erin to display the bill during her Morning Joe appearance today.
The CNBCer was responding to Joe Scarborough’s questioning about the inflationary risk of the government’s decision, announced yesterday, to create $1 trillion out of thin air that it will use to buy Treasury bonds and mortgage securities.
View video here.
(Excerpt) Read more at finkelblog.com ...
Road to Zimbabwe ping to Today show list.
I think the article is behind the actual times.
I bought a $100 TRILLION bill on eBay for $13. I doubt that would buy 3000 eggs anywhere, even in Zimbabwe.
O was born in Kenya so he wants to be the next Mugabe.
Unless the U.S. military or someone gets a case to SCOTUS and they do their job about the fraud/usurper then we are probably screwed. 2010 will be too late and ACORN will insure Dems hold power in the next election.
As a Kenyan, Obama learned his lesson well apparently.
If there is hyper-inflation in America, then anybody who is drowning in credit will be joyful. That $50,000 they owe the credit card company will be worth three eggs. In other words, they can sell three eggs and pay off the cradit card company.
Good point. The U.S. is actually on the road to Zimbabwe and not the USSR. Chaos may result, but American men with their guns will never allow a Soviet style goverment - of at least I hope they won’t. But general decay with a government run amuk printing extra money daily could create something similar to Zimbabwe - though we won’t devolve into the outright animalistic behavior of Zimbabwe.
That's why I'm now looking to buy some real estate with as little down and as long of fixed term as possible. I heard stories of bouts of inflation in South America where the stamp to mail in a mortgage payment cost more than the mortgage payment itself did.
May not have any effect. We’ve had more money than that
vanish in bad assets these banks have. That money is gone.
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