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The only two ways America can reconcile its insurmountable debt is either to default or hyperinflate. The latter ensures bigger gubmint and more control, and is the desired option for comrade commissars in DC high command.
Since when is debt of 60% of GDP insurmountable? Have you seen how many 1st world countries have 200% or even 250% of GDP in national debt? This level is still quite moderate and manageable especially since virtually all of it is covered by borrowing and not printing. Now, the Fed is increasing printing because it is trying to spark a bit of inflation in order to combat the current deflation we are experiencing but this is only about 1% or so and no where near enough to cause hyper inflation especially in a deflationary environment. Price stability is after all the Feds primary responsibility so they work to combat inflation and deflation in order to produce price stability. This is exactly what the fed is doing right now.
Please don't let facts get in the way of your rantings though. I WILL remember your name, ViewFromThePeak, though just so I can rub your face in your own poo after your hysterical rantings about hyperinflation don't come true. You will be named and shamed repeatedly and often. Mark my words.
Since when is debt of 60% of GDP insurmountable? Have you seen how many 1st world countries have 200% or even 250% of GDP in national debt? This level is still quite moderate and manageable especially since virtually all of it is covered by borrowing and not printing. Now, the Fed is increasing printing because it is trying to spark a bit of inflation in order to combat the current deflation we are experiencing but this is only about 1% or so and no where near enough to cause hyper inflation especially in a deflationary environment. Price stability is after all the Feds primary responsibility so they work to combat inflation and deflation in order to produce price stability. This is exactly what the fed is doing right now.
Please don't let facts get in the way of your rantings though. I WILL remember your name, ViewFromThePeak, though just so I can rub your face in your own poo after your hysterical rantings about hyperinflation don't come true. You will be named and shamed repeatedly and often. Mark my words.
Please do remember my name, just as others have during 2005 when I said the housing bubble will burst hard on Usenet forums or last year when I said Fannie and Freddie would fail (search on CD for this prediction ).
It's also funny because the current GDP is a farce based on phoney consumption that even the almighty gubmint cannot replenish.
The only two ways America can reconcile its insurmountable debt is either to default or hyperinflate.
No, we can just continue to service the debt, which is all that anyone has ever intended that we do. We have never paid off our Civil War debts, or those arising from WWI or WWII or the Reagan adminsitration. We will never pay off that debt, and we won't pay off the debt we undertake today either.
Your hyperinflation theory is complete bunk. It appears to take no account at all of the recent loss of more than $15 trillion in wealth. It is exteremly unlikely that there will be any period of significant inflation durting Obama's first term.
No, we can just continue to service the debt, which is all that anyone has ever intended that we do. We have never paid off our Civil War debts, or those arising from WWI or WWII or the Reagan adminsitration. We will never pay off that debt, and we won't pay off the debt we undertake today either.
Your hyperinflation theory is complete bunk. It appears to take no account at all of the recent loss of more than $15 trillion in wealth. It is exteremly unlikely that there will be any period of significant inflation durting Obama's first term.
I may disagree with you on a lot of things: but; this time you are probably spot-on IMHO.
No, we can just continue to service the debt, which is all that anyone has ever intended that we do. We have never paid off our Civil War debts, or those arising from WWI or WWII or the Reagan adminsitration. We will never pay off that debt, and we won't pay off the debt we undertake today either.
Your hyperinflation theory is complete bunk. It appears to take no account at all of the recent loss of more than $15 trillion in wealth. It is exteremly unlikely that there will be any period of significant inflation durting Obama's first term.
I agree with you Sag, with the additional provision in that I think inflation will start to rise about 4-5 years out (but it won't reach double digits).
Please do remember my name, just as others have during 2005 when I said the housing bubble will burst hard on Usenet forums or last year when I said Fannie and Freddie would fail (search on CD for this prediction ).
It's also funny because the current GDP is a farce based on phoney consumption that even the almighty gubmint cannot replenish.
Careful there, aren't you the guy who predicted $200 a barrel oil, and $5 per gallon gas, within the next month or so?
The deflation phase is just about over now, and the sucker's rally in the dollar is toast.
When gold goes up $70 an ounce in a day, it's a teeny tiny hint of things to come.
Nah, it will bounce around, but I think you will find gold a bit disappointing.
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