Fifty years ago Milton Friedman predicted the stock market would tank. He stated when you have the policies implemented by the Obama administration, huge deficit spending, debasing the currency, and endless borrowing, equities (stocks) would initially rise as a consequence of early hidden inflation. However since there has been no corresponding creation of real wealth, they will eventually tumble. Milton Friedman was rarely wrong. Of course he did not factor $16 trillion in actual Federal debt, $3 billion o day of continued deficit spending, trillions more in state debts, $100trillion in unfunded entitlements, the granddaddy of all real estate bubbles in China, a deindustrializing America and much much more. Decadence and decline in the age of Obama.
"All-party support is therefore locked on to the "liberal solution" of inflating the nominal value and the market price of anything tradable: stocks, gold, silver, real estate, oil and energy, food. This becomes a surrogate for economic growth and keeps the biggest players happy."
"Being fantastically divisive in its social effects in a stagnant economy, the political result of supposed "stealth" inflation is an ever growing Us-and-Them divide in society, most certainly and surely creating the potential for civil strife, and civil war. "
"We therefore have a choice of two no-wins: massive state debt, increasing austerity, rising real inflation and social injustice - or economic collapse and chaos.