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Posted on 03/15/2010 3:09:45 PM PDT by Kartographer
Washington is patting itself on the back for having orchestrated an amazing economic recovery. But Washington lawmakers are a delusional bunch of boneheads, say Marc Faber and Mike "Mish" Shedlock, editor of the Gloom, Boom, and Doom Report and investment advisor at SitkaPacific Capital Management, respectively.
The economy is NOT recovering, they say, and the U.S. faces a depressing "eventuality" of either crushing deflation (Shedlock) or runaway inflation (Faber). The timing and type of this eventuality is uncertain, say the gurus, but they are certain it's too late for America to change course.
"It's beyond repair -- it's too late," to avert fiscal disaster, Faber declares.
(Excerpt) Read more at finance.yahoo.com ...
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That plan sounds familiar!!
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Of all the economic articles I have read throughout this crisis, this one scares me the most. I’m serious.
The 1920’s 1930’s all over again...
Great one! The more things change the more they stay the same, at least when it comes to “progressives” and intellectuals.
Discussion today on very subject
Ugly statistics in graphics
Either crushing deflation or runaway inflation?
Think I’d prefer deflation. Buy little more than electricity and fuel, eat from the woods and from the garden? Think I could live with that easier.
I am sure if healthcare reform passes everything will be ok...
BAHHAHAHAAHHA
Of all the economic articles I have read throughout this crisis, this one scares me the most. I’m serious.
I don't know... I read the article and I hardly got anything out of it, other than a couple of guys stating an opinion. I can hardly get worked up over that.
On the other hand, if there had been some kind of argument given, some facts and figures, some notes from history, some comparisons made and I could look at it all and evaluate it -- then it might have been different.
But, nothing is given -- just a simple opinion... which I don't really get too worked up over, if that's all someone is going to say.
I too would prefer deflation. Hyper-inflation is like industrial strength taxation that wipes out the entire middle class.
more good news to sleep on....
The plan of all of this is quite simple.
Smash OBAMACARE through. Use the ‘stimulus’ money to hire federal employees, thereby ginning up the employment rate.
It installs a permanent, unbreakable patronage class
The rest of us have to be willing to take back the constitution
They think we don’t have the stones.
Are they right?
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