First ... Increase SPENDING
Second .. RAISE TAXES
Third ... Impose TARIFFS
Stir together and what do you get?? DEPRESSION!!
That was the proven formula for the Big Depression. The new variable this time around is we are now pissing off our biggest debt holder. On Monday China declares war on the dollar and by Tuesday Zero will be begging them to forgive us or else we will be broke on Wednesday. Buy gold and silver!!!
“First ... Increase SPENDING
Second .. RAISE TAXES
Third ... Impose TARIFFS
Stir together and what do you get?? DEPRESSION!!”
Exactly correct. Protectionism and government intervention turned what should have been a periodic “panic” into the Great Depression.