Doug Casey
March 7, 2011
[snip]
What do I mean by that? There’s plenty of reason to be concerned about things financial and economic. But I personally believe we haven’t been bearish enough on the eventual social and political fallout from the Greater Depression. Nothing is certain, but the odds are high that the US is going into a time of troubles at least as bad as any experienced in any advanced country in the last century.
[snip]
Ugh.
What a ray of sunshine!
I’d be a bit careful with the hyperinflation predictions given the continued glut in housing and continued increase of supply. Hyperinflation is a long way off. Right now we are seeing what we did in 2007-2008, (food and energy). without the jobs.
The Market Orangatan writers off their meds again?
cool, I’ll sell off a few ounces of gold and pay off my mortgage. Then I guess I’ll be raising chickens and goats. maybe some rabbits. Bring it.
Major hyperinflation has only occurred in modern history where countries have enormous amounts of debt denominated in a currency which is not their own.
The U.S. has large debt - but all in US dollars.
We will be following the path of Western Europe and suffer major deflation.
I would trust Ludwig von Mises rather than any Keynesian.
well, no point in not having that extra piece of pie then is there?
There is an old saying from the old and notorious Vancouver Stock Exchange, and is that so long as it is going up the public will believe the most preposterous story. Then, when the price fails belief fails and is followed by remorse.
It is not too big a step to consider that so long as government credit is expanding too many will believe in its bounty and blessings. Or will be complacent. However, the changes in the financial markets that began in 2007 are reducing the market’s abilities to fund ambitious government. In April (2010) our work noted the change in the money markets that would soon afflict corporate bonds, stocks and commodities.
-Bob Hoye
bfl
Hi blam. I’ve seen nothing that changes my outlook for about 10 years of stagnation and mild deflation.
Not that that’s any bed of roses either...
Excellent article.
This statement is true and von Mises is correct.
“The family is no longer the kernel of society.”
###
Economic considerations aside, therein lies our doom.
It ALL flows from that simple, awesomely sad truth.