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<p>[QUOTE="Vess1, post: 1429947, member: 13650"]This was my perception as well. You meet people like this once in a while. People who are so strong headed they can convince themselves to believe anything they want to believe and say it's fact. They always have something to prove or one up somebody on. </p><p><br /></p><p> There is no doubt the US had/has the benefit of being the largest, most prosperous country in the history of mankind. Just because it takes a much larger number before all of it's equity is burned up, doesn't mean it can't turn into a Weimar situation. If inflation is so good, why don't they print enough money to pay off every debt and buy everything that everybody needs right now? Bail all the states out and every business. Problem solved in his eyes! </p><p> A stable money supply should experience zero inflation. We are relying on infinite, compounding growth to keep the wheels turning. It's impossible. We're seeing the limits tested with the job markets right now. 1 in 2 college students can't find a job. If 50% of them are unemployed, how are the "lowly" blue collar workers doing? So we have a severe economic downturn with a huge drop in tax revenue, but the governments budget keeps skyrocketing by default because it has to! Whether the money is coming in to pay for anything or not, really doesn't matter any more.. </p><p><br /></p><p> When George Washington took office the country had very little debt if any.</p><p> When George Bush I took office, the country had accumulated a paltry 1 trillion in debt. (Took how many centuries and how many wars??)</p><p> When Obama stepped into office we were at 9 trillion.</p><p> Today we're at 16 trillion. This isn't even counting unfunded future liabilities. </p><p><br /></p><p> This isn't " light and healthy inflation". This is essentially a runaway train, picking up speed. I'm sure if the government tells him inflation is 0% he would believe it no matter the situation.</p><p> Unless the powers that be create and institute new math at some point, I can't see how this ends well. Nothing less than new math will save this system and if it does, the little guy will still get screwed. </p><p> That clown has his head in the sand. Wishful thinking. He's willing to make a bet that 'maybe' nothing will happen in his lifetime. Well, maybe so. It doesn't mean he's a fountain of knowledge on the future of economics. He actually seems naive.[/QUOTE]</p><p><br /></p>
[QUOTE="Vess1, post: 1429947, member: 13650"]This was my perception as well. You meet people like this once in a while. People who are so strong headed they can convince themselves to believe anything they want to believe and say it's fact. They always have something to prove or one up somebody on. There is no doubt the US had/has the benefit of being the largest, most prosperous country in the history of mankind. Just because it takes a much larger number before all of it's equity is burned up, doesn't mean it can't turn into a Weimar situation. If inflation is so good, why don't they print enough money to pay off every debt and buy everything that everybody needs right now? Bail all the states out and every business. Problem solved in his eyes! A stable money supply should experience zero inflation. We are relying on infinite, compounding growth to keep the wheels turning. It's impossible. We're seeing the limits tested with the job markets right now. 1 in 2 college students can't find a job. If 50% of them are unemployed, how are the "lowly" blue collar workers doing? So we have a severe economic downturn with a huge drop in tax revenue, but the governments budget keeps skyrocketing by default because it has to! Whether the money is coming in to pay for anything or not, really doesn't matter any more.. When George Washington took office the country had very little debt if any. When George Bush I took office, the country had accumulated a paltry 1 trillion in debt. (Took how many centuries and how many wars??) When Obama stepped into office we were at 9 trillion. Today we're at 16 trillion. This isn't even counting unfunded future liabilities. This isn't " light and healthy inflation". This is essentially a runaway train, picking up speed. I'm sure if the government tells him inflation is 0% he would believe it no matter the situation. Unless the powers that be create and institute new math at some point, I can't see how this ends well. Nothing less than new math will save this system and if it does, the little guy will still get screwed. That clown has his head in the sand. Wishful thinking. He's willing to make a bet that 'maybe' nothing will happen in his lifetime. Well, maybe so. It doesn't mean he's a fountain of knowledge on the future of economics. He actually seems naive.[/QUOTE]
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