We need to accept the deflationary depression and get past it. Prices and wages will fall until they reach a point of market support. it is the only way we will get rid of the inventory of real estate and get the economy back on track. Moving toward the type of Jimmy Carter inflation we had in 1982 is not going to be any more pleasant or solve the issues.
The honest fact is that it does not matter what the Congress does this train is so far down the track and we are also now in the beginnings of a global depression that a financial crash is not avoidable. We are going to have to face it one way or the other. Facing it now by refusing to raise the debt limit will be better than kicking it down the road for another 2-3 years. Its going to be very bad. People who have realized this are preparing themselves to be independent for a year or two to get through what is going to be a terrible situation.
Like I said, pols and bankers and fed weenies all fear deflation much more than they fear inflation since they have so little in the way of tools to control it. Consider ordering a copy of Ellen Brown’s book, www.webofdebt.com.