thanks to the dems and obama
I always love threads where the title ends with a “.”
No it's not.
A Deflationary Greater Depression is here and will be getting worse once the Federal government loses its ability to create new debt fast enough.
Just wait till the O man makes possession of gold illegal in the U.S. A lot of people that bought it will be so screwed.
Its time for a black market where everything is for sale at a price
"Things people already own, depend on for a private-sector livelihood, or do not really need, are falling in price. Things people need to buy, such as health care, are not.
"This is neither inflation nor a symptom of inflation, but rather a symptom of an overwhelming deflationary trend coupled with foolhardy government regulation in a completely unbalanced economy." -- Mike "Mish" Shedlock
"Things people already own, depend on for a private-sector livelihood, or do not really need, are falling in price. Things people need to buy, such as health care, are not.
"This is neither inflation nor a symptom of inflation, but rather a symptom of an overwhelming deflationary trend coupled with foolhardy government regulation in a completely unbalanced economy." -- Mike "Mish" Shedlock
Boy O Boy.
I won’t say we won’t have our issues,i firmly believe we will. Europe,bailing out Greece to be followed by Portugal and perhaps Spain and possibly some other smaller countries is in worse shape. They will be in worse shape because Greece’s aid and eventually Portugal’s will come with conditions that the countries very well may be unable to fulfill. That is where the pedal will hit the metal. Large unions,communist influenced,will probably not go along meekly with the austerity program. I think you have to watch there. If its bad enough there then hopefully we learn a lesson and manage to avoid the worse of it.
The problem is deflation: falling home prices and fewer jobs, not inflation.
My guess is that it comes after November.
Well the supply of beef, pork and chicken that was in the supply AFTER they slaughtered tons of it, has been used up, and meat prices are already SOARING. Which means eggs, milk cheese, yogurt etc as well. Inflation is up highest in over a quarter of a century. And Obama’s kneejerk reaction to the little criticism he got for the oil spill, was to announce to the world no more new oil leasing or drilling, expect $5-7 a gallon gasoline. EVERYTHING will be going up drastically in price.
And they tried to convince us we ‘are in recovery’.....YOU LIE.
Where is Galt’s Gulch? I’m going.
If and when it happens ... I want to be long on toilet paper, coffee and pet food.
I think those will be great barter items ;-)
It seems to me that you all are missing something. History. In fact at least 3,000 or more years of history. The easy illustration, although there are almost innumerable examples, is Imperial Rome. When Julius Caesar was assassinated in 31 BC the Denarius was gold or silver and bought a commensurate amount of goods for its value in precious metal. By the time of 410 AD, and the sack of Rome by Alaric, the currency had become so debased as to be effectively worthless. It was no coincidence that Rome at that time was dealing with a chaotic and terminal case of collapse of government and the economy.
While the Denarius was being clipped and ultimately the precious metals replaced by common metals, (removing the value backing) the Dollar today has in only 97 years had almost the same decline as the Denarius, in 20% of the time, wildly accelerated by the removal of the gold backing, and opening the flood gates of irresponsible budgetary deficits, and the erosion of the fundamental value of the currency. The tanking of confidence in government, politicians and bureaucrats is in parallel to their usurpation of untrammeled power and suppression of individual liberty! Someone said that they felt a currency that was NOT backed by a gold or other immutable standard could support an economy. The proviso being that the economy was functioning on an even keel, manufacturing, agriculture, and the annual budget of the government being relatively balanced. The critical factor being a relatively balanced system with restraints on government spending – sustainable economic growth – which history teaches is impossible without a solid backing to the nation’s currency. An imposed economic discipline.
Sovereign debt at this point in history is damn near out of control, there being no economic discipline anywhere in the world. Whether there is a continuation of the series idiotic government extensions of entitlements to the growing percentage of indigent and non-productive members of the global society – while the governments (as particularly practiced in the US and UK at present) clamp an ever tighter grip on the diminishing productive elements, is almost certainly going to result in a global Depression and likely a staggering number of deaths from starvation and chaotic civil disorder. The hoped for reduction in human inhabitants of the globe – expressed by Soros, and the various powers largely responsible for today’s crises – is a significant probability. The niceties of economic theory, in conjunction with the issues of legitimacy for the present emperor Diocletian is very likely utterly redundant.
A very interesting discussion - wasn’t until a while ago.
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That leaves option #2, which is what many other governments throughout history have attempted to do. They will attempt to inflate their way out from under this debt. Problem is, as history shows, governments overplay this option and inflation quickly gets out of control as holders of the money begin to realize what is happening and try to dump their reserves of the money quickly , causing inflation to ramp up at a faster and faster rate until a full blown panic occurs, causing a monetary collapse which brings forth hyperinflation. History is replete with examples. Our stupid government and Fed officials are no smarter than those who have tried this failed approach in the past. (Why does anyone think Bernanke is called Helicopter Ben?) They will end up leading us all down that same well trodden path to monetary destruction.