Your guess was close but only off by 179-degrees.
I am all cash and have been all cash since December of 2006, as you SHOULD know by now because I have been screaming here on Free Republic on a regular basis for everyone else to get out of the market and flee to safety in all cash. All that ever got me was accusation of being a tool of the evil MSM trying to talk down the economy to get Hitlery elected, and an avalanche of people “refusing to participate in a recession” ala multi-millionaire Rush Limbaugh. Multi-millionaire actually have the luxury of “refusing to participate in a recession,” unlike us working stiffs.
I am all cash and 100% debt free. I don’t own a house because I refused to buy in the insane housing bubble.
So your guess could not have been more wrong. As for worrying about inflation, you better start worrying about deflation in a major way. All you can see is the severe short term inflation we had in food and fuel during the commodity bubble caused by the collapse of housing nad by Bernanke dropping the Fed Funds rate to 2%.
If you get your way with no bailout, when the resulting crash occurs, at worst you get laid off or at best you get a pay cut. Both disinflationary, not inflationary. If you are a retiree betting on your stock market gains, you will find them to be deflating as well.
If this works, then the monetization WILL cause inflation. So pick your poison. Some inflation or a long, deep, deflationary recession. I hate inflation but I’ll take it any day over the alternative.
As for all the heat I’ll take in this thread, I’m used to it.
When I said NASDAQ was funny money, I got pounded on here by people who said “new economy”.
When I said there was a housing bubble, I got pounded on here by people who said housing won’t go down.
When I said oil was a bubble, I got pounded on here by people who said we would never see cheap oil again in our lifetimes and oil would got to $200.
I said Bernanke’s 2% rate cut would do nothing to stimulate economic growth, since the banks refused to lend the money out anyway. I got body slammed for that call as people said, “best time to buy ever!”
Last year I said housing wouldn’t bottom until 2009 or 2010 and that last year was a terrible time to buy a house and 2008 would be much better than 2007. The hordes chimed in to say they were buying and “BEST TIME TO BUY... EVER!”
I got a stream of people jumping down my throat when I said, months ago, we were in the worst financial crisis since the Great Depression. Funny, I don’t hear that talk anymore...
By my record I am 6 for 6. Yet every time I post something, I invite the masses who probably haven’t read a small fraction of what I’ve read, jumping down my throat. That doesn’t mean intelligent people can’t disagree. There are several bright people here who fell the government can’t muster enough money to prevent systemic financial collapse and they back their arguments with facts and logic. There view is as good as mine. Nobody knows if the bailout will work.
But I take exception with this knee-jerk Conservatism in opposition of an action that just might prevent financial collapse. Without doubt, a financial collapse is a foregone conclusion if we keep going the way we are going, soaring national debt, trade deficits, corporate debt, private debt. If we avoid financial collapse, as soon as the fragile economy is strong, we have to bite the bullet and start saving, investing, and producing again — without undue debt.
That said, now is not the time to take some rigid ideological stand unless you want to destroy the village to save the village.
You have my respect and appreciation for your coursage
for being awake
for being a watchman doing his job
for telling the truth as you perceive it and have researched it
May you walk close to God and be a treasure to all those you love.
The fact that sooooo many Conservative Christians who OUGHT to know far more far better are still so clueless is a mind boggling thing to me. Given that so many of our brothers and sisters are so clueless . . . imagine what the average non-conservative non-Christian is . . .
What is beyond clueless?—amoebic?
Imagine the behavior of those millions of clueless . . . some will be loyal slaves and serfs mindlessly puppeting whatever the elites tell them.
Some will become violent anarchists destroying all within reach in suicidal rages.
What will Conservative Christians do as the light begins to dawn on their willful blindness? . . . beside regret being so slow to wake up . . . Prayer and fasting is certainly in order.
Preparing as best one can is highly in order.
Hiding Scripture in our hearts and minds . . . Living God’s priorities of Loving Him above all else and others as ourselves is a super priority. Learning to hear and obey His Voice is a high priority.
>> Your guess was close but only off by 179-degrees.
I wasn’t really guessing. I was yanking your chain.
>> I am all cash and 100% debt free.
As am I.
>> I don’t own a house because I refused to buy in the insane housing bubble.
I don’t blame you. I bought my house in ‘94. It’s paid off.
>> you SHOULD know by now because I have been screaming here on Free Republic on a regular basis
I scream here too! But I don’t delude myself that anyone hangs on what I say enough to remember it for even one thread cycle... maybe your ego needs a deflationary cycle too? :-)
>> As for worrying about inflation, you better start worrying about deflation in a major way
I’m concerned about both. Trust me on that.
>> no bailout, when the resulting crash occurs, at worst you get laid off or at best you get a pay cut
Too late... I was already forced into a “sabbatical” when the company I worked for was sold. Fortunately I had some stock...
>> If this works, then the monetization WILL cause inflation. So pick your poison. Some inflation or a long, deep, deflationary recession
That’s a straw man argument: you assert, but you haven’t PROVEN, that the deflation will be long or deep. I’ll rephrase your statement to “pick your poison, some inflation or some deflation”. Since I’m in cash, I choose “some deflation”. OK?