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I've been worried about this myself. A blind dog knows we're printing this bailout money. Anyone who knows about supply and demands knows what happens to a price of any commody (say, the US dollar) when you dramatically increase the available supply.
Hyperinflation is coming. No ifs, no buts. It's coming. We passed Beck's point of no return about 5-8 years ago when the tech bubble popped. That's when we should have realized that paper value was not value and adjusted our priorities accordingly. Instead, we impeached Clinton.
Personally I don't think this one incident matters. Given the nature of poiitics what's coming up in the next few years was likely since the Kennedy administration and inevitable since Ronald Reagan spent us out of the Cold War. It was just a question of how long it would take until politicians were this far out of control.
What it comes from is that the government both spends on large numbers of projects and also controls the money supply, and as top dog has no particular reason to plan for the future. Confidence turns to arrogance and we lost sight of the big picture, assuming that since we were so rich we could afford my pet spending project, and your pet spending project, and everyone else's too, and the money would never run out.
In 10 years or less we will end the minting of coins except for collecting purposes -- the dollar will be so inflated that there won't be any way coins would be worth their weight in metal.
The silver lining of all this is that even if the dollar goes, we're still a very wealthy nation with a crapload of natural resources. We might lose our superpower status in the worst case scenario but I don't think we're in enough danger to become a serious payback's-a-bitch victim from some tinpot pseudo-power, or be in any serious danger of not being able to feed our people or crap like that. Still some serious crazy times coming.
Conclusion: I picked a hell of a time to graduate.
If history tells us anything, the path to redeption for any bad baseball team is marked with a deep rotation of durable starters, a world class defense in both infield and outfield, a lineup that can generate runs in more than one way, a bullpen that won't steal defeat from the jaws of victory, and a top end catcher to hold the whole package together. These are the conditions by which victory is achieved, anything that does not accomplish these objectives is a waste of resources.
Hyperinflation would definitely mean that people can't feed themselves.
Originally Posted by ORS
let's go back to supply side economics.
No, let's go with Austrian school of economics.Originally Posted by David Bowie;388297;
Originally Posted by ORS
Wow. Glenn Beck. Seriously? Should I post clips of other objective sources like Bill Maher?
:lol: Who gets their news from Fox News anyway? Fox is a great entertainment company.
Depends on how quickly the government moved to impose emergency measures.Originally Posted by CrespoBlows;388293;
If history tells us anything, the path to redeption for any bad baseball team is marked with a deep rotation of durable starters, a world class defense in both infield and outfield, a lineup that can generate runs in more than one way, a bullpen that won't steal defeat from the jaws of victory, and a top end catcher to hold the whole package together. These are the conditions by which victory is achieved, anything that does not accomplish these objectives is a waste of resources.
The messenger being a bit of a hooligan or not, he's right. It's not like you can't see this coming 20 miles away.Originally Posted by RedSoxRooter;388306;
If history tells us anything, the path to redeption for any bad baseball team is marked with a deep rotation of durable starters, a world class defense in both infield and outfield, a lineup that can generate runs in more than one way, a bullpen that won't steal defeat from the jaws of victory, and a top end catcher to hold the whole package together. These are the conditions by which victory is achieved, anything that does not accomplish these objectives is a waste of resources.
That would make things worse.Originally Posted by Dojji;388888;
Originally Posted by ORS