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Posted on 11/18/2011 6:58:12 PM PST by blam
A 1.2 trillion spending cut (If it's actually a cut) over ten years is peanuts and will only have a depressing effect on the economy.
That's the problem for Republicans...cuts of any significance will crater what's left of the economy and inaction will lead to hyperinflation.
IMO, we are at the point of no return.
I still think we'll end up inflating, inflating......
Deutsche Bank Has A Super-Bullish Take On The Latest Economic Data
There are no non-painful solutions. Either we accecpt austerity now, try inflation and end up defaulting, or just party on and hyperinflate till we collapse. I think austerity now is best, not because it is without pain, but because I think it will be less pain, and will get the problems over with faster. It also focues the pain on the generation that caused the problems, rather than dumping it on our kids.
The problem is that we will handle that exactly as the Greeks have handled it.
We have too much debt. We spend too much. We need austerity. What would that mean? Well, pretty much inevitably it would mean rethinking entitlements -- medicare, social security, that sort of stuff.
And Americans would take to the streets, riot, and burn buildings:
"You can't take my Social Security!"
"That's my money!"
"I've paid into that my whole life!"
That's exactly how the Greeks reacted. We will be no different.
Austerity is the irresistible force. The folks who like entitlements are the immovable object. The collision will NOT be pretty.
Like a balloon - to the point that it goes BANG!
This 'big bang' won't create anything but major world-wide pain.
I think austerity now is best, not because it is without pain, but because I think it will be less pain, and will get the problems over with faster.
You've reached the same conclusion as me.
When is the only question left.
Now:
Austerity is the irresistible force. The folks who like entitlements are the immovable object. The collision will NOT be pretty.
Damn.
DB is in such high spirits because they are counting on more of Uncle Ben's Magic Unicorn money - QE3.
It's actually taking place now, with the FDIC back-door funding the banks as they collapse and change names.
Game on!
A smelly mohamed goat-humper predicting the demise of western civilization.
Let’s count how many FR clods fall for this BS.
I count five so far.
I don’t mind working until I’m 80 years old. The immediate problem is that I’m 59 and unemployed. I’ve been looking for work now for, oh, 11 months with no interviews.
The past three months I’ve been selling items on Ebay. Two weeks ago people stopped buying. Even the folks in Ebay’s various chatrooms have noticed the drop-off in traffic to their sites.
This is getting closer and closer to the SHTF time.
Well stated. Do you think we will make it through 2012 without a SHTF event playing out?
“I don’t mind working until I’m 80 years old.”
Nobody is going to hire a person who is in his 70’s.
My observation lately is that NPR has been thrilled by the US economy -- it's doing great, have you heard? Today they stated that we've been in recovery all year long. Who knew? They did point out that we did hit a stumbling block last spring when Japan was hit by the tsunami, but other than that Obama's policies have worked out well.
NPR has been shoveling this BS for several weeks lately. And they always follow it up with a key point -- "The only thing that could hurt us now is if Europe implodes."
What this tells me is that the folks who run the leftwing media have been passed the word: Europe will implode soon. Nothing is going to stop it. The EU is guaranteed toast. Obama will run on a campaign of: "Things were going great, then Europe flushed all my glorious economic gains down the toilet."
There will be worldwide economic collapse, and a domestic push for massive increase in government control. And, yes, there will be blood in the streets.
direst dire.
Interesting about the sales dropping off.
A little prayer you find work.
I agree that no one will hire a person in their 70’s.
Instead our society will see the suicide rate skyrocket, as there will be no alternative during a depression if you’re all alone, as I am, or you face starvation and deprivation when no one will hire you no matter how qualified or how experienced.
I’m now down to selling my furniture and stalling the execution of my two dogs.
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