[Razzz42]

Everybody has their opinions, dismal as they may be. The article does establish some other poignant points if you try and gloss over the gloom and doom.

What I am reading is that default on its debt by the US Government will happen before hyperinflation ever takes hold.

[hosepipe]

The T-P Caucus is growing, growing, GROWing... (JAws theme)
2012 will be even BETTER....

[TeachableMoment]

Basically, the FED is going to impoverish future generations to keep the stock market from falling to where it should be. Bernanke said as much, from what I read, not the impoverishing thingee, heh.

[johnthebaptistmoore]

Obama just wants to blame the newly elected Republicans for “everything bad that happens”, during the next two years. Will all of the GOP have a decent, foolproof game plan to deal with this, for the next two years and beyond?

[J Edgar]

RINO infested GOP corruption, inaction and lack of honesty will result in nail pace restorative movement, resulting in The Usurper win in 2012.
Pray for the American people who have been sold out by 100 years of Congressional corruption and feeding at the trough of elite money interests! JMHO
Many old timers who voted TPA and GOP will not be around for 2012. Educating the youth is the main activity need to save the Republic in the long run.
If GOP needs to blunt NEA and Government employee Unions, the Republic may have a chance of survival. The Commies in Universities must be called out for the treason that they propagate!
Just my thought on a mix night of victories and disappointments.

[Fred]

Beginning to starve the middle class...QE has been starving the middle class for two years...

[American Constitutionalist]

Emergency measures ? or steps taken by this out of control government intentionally ?

[Rashputin]

You know, they've got a real scheme with this. Everyone is talking about how it will devalue your money, so they are hoping to scare people into not hanging onto their money because it's going to be worth less and probably worth less in a big jump. So, if people do get scared and spend their money, “Oh Boy!”, they'll shout, “our stimulation of the economy has finally taken effect. Who knew it would take this long? Well, we were wrong about the timing, but we were really right all along.”

Now, if people don't start spending out of fear of inflation, they just devalue the bucks and tell people, “well, that's the way it goes when people aren't spending and begin to lose faith and horde their money”.

Just a thought about how this might be as much a psychological game on their part every bit as much as an action intended to solve anything.

Regards

[Talf]

Bush did something much worse.

all dates, 2008.

http://www.globalresearch.ca/index.php?context=va&aid=11236

July 30: President Bush signs a housing bill including $300 billion in new loan authority for the government to back cheaper mortgages for troubled homeowners.

Sept. 7: The Treasury takes over mortgage giants Fannie Mae and Freddie Mac, putting them into a conservatorship and pledging up to $200 billion to back their assets.

Sept. 16: The Fed injects $85 billion into the failing American International Group, one of the world’s largest insurance companies.

Sept. 16: The Fed pumps $70 billion more into the nation’s financial system to help ease credit stresses.

Sept. 19: The Treasury temporarily guarantees money market funds against losses up to $50 billion.

Oct. 3: President Bush signs the $700 billion economic bailout package. Treasury Secretary Henry Paulson says the money will be used to buy distressed mortgage-related securities from banks.

Oct. 6: The Fed increases a short-term loan program, saying it is boosting short-term lending to banks to $150 billion.

Oct. 7: The Fed says it will start buying unsecured short-term debt from companies, and says that up to $1.3 trillion of the debt may qualify for the program.

Oct. 8: The Fed agrees to lend AIG $37.8 billion more, bringing total to about $123 billion.

Oct. 14: The Treasury says it will use $250 billion of the $700 billion bailout to inject capital into the banks, with $125 billion provided to nine of the largest.

Oct. 14: The FDIC says it will temporarily guarantee up to a total of $1.4 trillion in loans between banks.

Oct. 21: The Fed says it will provide up to $540 billion in financing to provide liquidity for money market mutual funds.

Nov. 10: The Treasury and Fed replace the two loans provided to AIG with a $150 billion aid package that includes an infusion of $40 billion from the government’s bailout fund.

Nov. 12: Paulson says the government will not buy distressed mortgage-related assets, but instead will concentrate on injecting capital into banks.

Nov. 17: Treasury says it has provided $33.6 billion in capital to another 21 banks. So far, the government has invested $158.6 billion in 30 banks.

[arkady_renko]

Insomnia.

[arthurus]

It is probably tactically better to let the economy chug along at a low level while trying to prevent more QE scheissunddrek than to force the necessary changes now. If we get the crash and depression that is baked into the cake then it will likely cost us the Congress again and the presidency, too. Then the Keynesian rocket ship will take off spectacularly and the situation will be far worse and perhaps terminal. Better to wait until we have the power to actually do something, as when Reagan became president. The Republicans could not do anything while Carter held his hand on the throat of the country but when Reagan got on his horse he was able to do the necessary things and we had another sharp recession that ENDED. Without Reagan's ability to speak to the nation I don't think we can đo that without solid control of Congress and the presidency. Even the resulting sharp "correction" will probably cost the Republicans the next midterm but the repair will have been made and we will come out of it, probably while the president is still a Republican. God help us if that Republican is Romney. Then all bets are off.

[melsec]

I would hate to see something similar to the Great Depression today. You would not have people coming to the door begging for a meal. They will kick in your door take your goods and food and then kill you nowadays. This is why a depression like that of the 30’s is not really a viable thing - it will mean the unraveling of society and I wonder why some here seem to revel in the prospect of it.

Mel

[The Duke]

This is a dangerous situation that must be carefully managed. I think significant inflation is unavoidable and will result in the least lousy results. As the value of the dollar goes down, by definition everyone will adjust the prices they charge for goods and services.

Those sitting on money will be forced to invest it in new ventures, thereby increasing employment.

Higher prices from offshore sources will result in some manufacturing returning to the US.

This will also require laws to be passed to eliminate inflation-indexed pensions.

Those who will suffer most will be those on fixed incomes. Inflation will simply be a way of reneging on pension plans.

Staffing companies will experience a surge, as the only way people will be able to keep up with inflation is to change employers.

As the dollar becomes worth-less it will become much easier for Joe Sixpack to pay off mortgages and other debt.

The Chinese - who are sitting on a mountain of dollars - will begin buying businesses and property in the US. Many Americans will be working for Chinese bosses. Chinese will begin moving to the US en-masse - which will probably improve the neighborhood here in the US.

In summary - it's going to be a rough ride and a mixed bag of blessings and curses - but mainly curses for those who won't roll up their sleeves and get to work. And it will beat the alternative - which was best depicted in the movie "Soylent Green".