This insanity had to come home to roost at some point. Obama and his band of clueless Ivy League fools, have simply pushed the fiscal idiocy pedal to the metal.
How’d their predictions for 2009 shape out?
I agree with most of the predictions here - and have been saying the same thing to friends and cow orkers for some time - but Kitco would serve themselves better by backing these predictions with hardcore analysis rather than just spouting them with no backing.
There’s a little analysis in there, but not enough for my tastes.
This an excellent article posted by Blam .
Ping list I thought these articles were interesting
The recurring gold “bubble”
http://www.stockhouse.com/Columnists/2009/Dec/2/Why-the-U-S—Fed-is-not-really-inflating-away-the-
http://themessthatgreenspanmade.blogspot.com/2009/12/recurring-gold-bubble.html
Red Ink: Not an Illusion
http://www.financialarmageddon.com/2009/12/red-ink-not-an-illusion.html
17 million Americans have no bank account
And another 18% that do still use non-traditional banking services like pawn shops and payday lenders, according to FDIC survey.
http://money.cnn.com/2009/12/02/news/economy/fdic_survey/index.htm
Charting the great world trade collapse
http://www.zerohedge.com/article/charting-great-world-trade-collapse
Bailout hater goes over to the dark side
and the dark side says
http://www.bloomberg.com/apps/news?pid=20601087&sid=aShE5EGhFq90&pos=4
Why Did Bank of America Pay Back the Money?
http://baselinescenario.com/2009/12/04/why-did-bank-of-america-pay-back-the-money/
for later
Ping!
No time to read now...
Inflation will destroy debt. The end answer to all argument (inflation versus deflation) rests in the Federal Reserve and government. Both are absolutely committed to preventing a financial collapse or deflation. As long as they are willing to print dollars to support any failing creditors, the cycle will go on. What most deflationists fail to consider is that inflation destroys debt.
Creditors win through inflation and lenders lose. The deflationists do not see that if inflation of the money supply continues, which it will, there needs to be a deflation. All the debt in the world can be wiped out just by creating purchasing power and thats exactly what is happening the debt problems will be resolved, but they will not be resolved by debt liquidation through bankruptcy and collapse. They will be resolved through debt liquidation via the creation of money. We are in for the greatest wave of inflation in the history of the world. You had better not be on the wrong side of the dollar. -John Pugsley Common Sense Viewpoint.
That is the money quote.
How can that be if you already have a loan, but what you owe is worth less in real money because of hyper-flation?
I am guessing it is only good if salaries and wages have to be exponentially increased in order to keep up with inflation.
So, instead of owing $50,000 on that car, the dollar becomes worthless and I owe a fraction of that in real money.
Yes?
That, my friend, is about the gloomiest thing I’ve read all day. The good news is that we’re not in debt in any meaningful way, so if they cut my wages, I can take it. In a strange way, this makes me feel good for my son - he’s only 11, so he’ll have to struggle as a young man, but after the last eight years of the Palin-Bachman administration, he’ll be able to do well. LOL
I’m really glad I spent part of the summer building the root cellar. This year I’ll buy extra-large bags of cabbage and broccoli seed.
bump