They are setting up the crisis needed to get a “deal” on raising the debt. We should be deflating. But they are trying so hard to create inflation it ain’t working.
I liken this to “reverse musical chairs”. Neither party wants to be in the hot seat when the music ends.
Well written and very informative article.
lets hope it comes BEFORE people have to vote
in fact, if you are a good conservative business owner, it might be time to take that nice long vacation that you KNOW you always wished you had time for.
Do it now, while you still have a business, and help defeat the communists BEFORE YOU HAVE NO MORE BUSINESS
GO GALT NOW~!
Those that are too big to fail have the bailout politicians in their pocket so they don't care. The rest of us get screwed either way.
Wall Street, as with the rest of our financial system, is in serious need of correction but as long as these idiots expect and get the Fed and the US government to bailout their collective, idiot-ridden, scamming lamearses, there will be no correction and we the people will forever be screwed beyond our own imaginations......at least until this country financially implodes via a default....and one can only hope such does occur, because as is, a default is exactly what is needed to make the ultimate correction. =.=
It has to be broken before they can fix it . . .
We could have both at the same time.
Anything produced outside of this country will become expensive. Cheap clothes from India will still be poorly made, but they'll cost a lot more. Food grown here will be higher because the rest of the world will buy our food. American's worthless dollars won't be able to compete - food will be expensive.
Labor - people working for each other - cutting hair, flipping burgers etc will become cheaper. Lower wages, lower prices for the service. Having a horrible job that doesn't pay squat will be a status symbol compared to being unemployed with you and the kids bunking in with an older brother... and his wife and four kids...
Then again, this economic can will probably be kicked down a year of so from now with QE3 - which will make things better in the short run - and much worse in the long run. Put in fruit trees...
They wish they could create inflation.
You don’t.
You get hyperinflation followed by a deflationary collapse.
I am not even sure the inflation thing is going to happen this time, the money from the growth in the U.S. money supply is going overseas, not where it can be spent here in the U.S.
It may happen that we go directly to a deflationary collapse from a collapse in the labor market. We are very near that now.
There will certainly be more QE. The government’s not going to shrink willingly. Only the climax of the default will do that.
Obama will not default when he has access to the money printing presses.