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Old 02-07-2013, 13:39   #53
Glotin
Senior Member
 
Join Date: Aug 2011
Posts: 841
Quote:
Originally Posted by stevelyn View Post
Nope. Let it crash and burn. It needs to. Hopefully every last one of them responsible get burned to ashes.
Who all do you believe is responsible? I'm willing to bet your anger is misplaced; sounds like you've bought the story fed to you by the govt and MSM.

Quote:
Originally Posted by beforeobamabans View Post
See, because this generation has never experienced deflation, they don't know what it is or what to do about it. All the fed printing would result in inflation if the slack in demand and employment ever disappears but it won't.

Remember that Bernacke's PHD is in the depression and deflation. He knows what he is doing--fighting tooth and nail, using everything including the kitchen sink to keep the deflationary spiral at bay--and he's failing. Demand will never return to early 21st C. levels because of massive personal debt (which has doubled since 2000) and the inevitable tidal wave of baby boomer retirements, proceeding at 10,000 per day. BB'ers are grossly over indebted and under capitalized for retirement with an average of $40,000 in savings. Do you think they are going to be spending at the same pace as when they were working? No way!

You can already see major deflation right in front of you. What's happened to the housing market? What's happened to employment and wages.
There are plenty of notable economists (most of them, actually) who disagree with "Bernacke" [sic]. He is no longer an independent actor; he has different restraints and incentives than an independent economist.

Quote:
Originally Posted by beforeobamabans View Post
The only way out will be real austerity.
Completely agree with you there, but don't dismiss hyperinflation as impossible.
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