Posted on 04/12/2013 12:30:37 PM PDT by SeekAndFind
I’ll still take inflation for a thousand, Alex.
See Presidential Proclamation 2039, 6 March 1933, and Executive Order (EO) 6102, 5 April 1933, and EOs 6111, 6260, 6261. It wasn't until 1964 that American Citizens again own gold and silver bullion in any significant amounts.
In many respects, QE is the least of it. What's really worked in their favor is cartel management of all major markets.
While the stock/bullion markets are obvious examples, real estate is finally beginning to feel the effects of rampant inventory management. For instance, our neighbor's house just got bid up $30k over its asking price, up near $650k. And not just theirs; a host of other properties have multiple back-up offers.
Now, is it fair that a young(ish) couple has to pay a premium for this house, while a couple of others have been living free in default for years? While they have to scrimp/save, the 'owners' (occupants) of the other homes get to spend their disposable income on discretionary items.
The shadow inventory of non-foreclosed homes is enormous, but thanks to non-adherence to law, banks get to keep them on the books @ par. Banks are happy, local governments are happy, existing homeowners are happy, non-paying tenants are happy.
Sh!t, everyone is happy. Well, except those who have to pony up real money to support the Ponzi. OTH, maybe the new owners are recipients of Benny Fun Bux, so it's all one giant circle jerk anyway.
WHAT DEFLATION?!!I just came back fro a Chinese restaurant, to go order, for three meals was 45 bucks!
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