Or the Weimar Republic! IF we're lucky!
I don't believe the world has ever seen hyperinflation occur in a cradle-to-grave welfare state before. No doubt it will be very interesting to observe.
Posted on 07/19/2010 7:33:48 AM PDT by Rufus2007
We all probably knew the sentiment of the American left for just not getting the entire Tea Party movement concept, but this statement ought to cement that notion.
On the July 18 broadcast of "The McLaughlin Group," host John McLaughlin asked his panelists what the long-term implications of national debt could be for the United States.
"Is America in danger of the current debt crisis becoming a sovereign debt crisis as Mort [Zuckerman] mentioned, like the one that is now hitting Greece, yes or no?" McLaughlin asked.
MSNBC political analyst Pat Buchanan warned it was more "imminent" than many people have forecast. He cited British historian and Harvard professor Niall Ferguson, who has declared the country to be on the brink of a Greek-like collapse.
...more (w/video)...
(Excerpt) Read more at newsbusters.org ...
Or the Weimar Republic! IF we're lucky!
I don't believe the world has ever seen hyperinflation occur in a cradle-to-grave welfare state before. No doubt it will be very interesting to observe.
However, as a member of the EU, they cannot any longer.
Mygawd, the woman IS as stupid as she sounds.
I take back my comment about education majors being the bottom of the SAT barrel.
Journalists - you’re the ones!!
I don't mind them circling the drain.... it's the streaks they're leaving around the hole that tick me off. :)
Or the Planet, Algon.
Oh yeah, that always works. It worked in Germany between the wars didn’t it? Ignorant f’n bitch.
Wow, Eleanor? Um, might this be a clue you need to retire? I mean, seriously...this is how the GREEKS GOT INTO THE PROBLEM IN THE FIRST PLACE!!
Wow, the Dems are even dumber than I remember them being before.
I don’t believe the govt. can print money. The federal reserve can print money (federal reserve notes) and then somehow this money has to get into the economy. They can buy treasuries with these new “printed notes” thus injecting money into the federal government. Of course, the govt. has to pay interest on these treasuries as they mature. Also the federal reserve last year in monetary easing purchased 1.25 trillion mortgage backed securities. All this eventually leads to inflation one way or the other because the money will get out into circulation - inflation is absolutely in a democrats’ mind, the most relative painless way out of the economic conundrum. House values go up, stocks, bonds and other assets go up in value - this is what they seek. Of course monetarily, it will be higher but relatively it won’t. People may not understand this and be fooled. Of course if gas goes to 5.00 a gallon and milk is $5.00 a gallon, then people will be up in arms.
The real problem here lies with the federal reserve and how this unelected body has incredible control over our economy.
Hungary had a bad month in 1946. 13 thousand trillion% inflation!
Hello, Weimar Syndrome....
WooHoo!!! Let’s hear it for inflation on a massive scale!!
(Eleanor, honey, you’re drooling. Get a tissue . . . . )
How is that even possible? They didn't have graphing calculators to track it.
Actually, we don't. We have sold most of our debt to China, Europe and India, so that THOSE countries (primarily China) have significant influence over our currency.
There, fixed it.
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