Johnnybags
Member
- Joined
- Jul 13, 2007
- Messages
- 4,126
Below is a snippet from an article I read. Everything now being done in Washington is simply to save the political class. All I can say is in Argentina the middle class was wiped out and the exact same thing is happening here. It really is time to take concrete actions to protect you and yours. It can happen virtually overnight. ....................
The political class's survival is at stake. Eventually, anything that extends their rule will be tried. It is not concern for you or the economy that is driving policy, but the preservation of power of an increasingly wounded power elite. Their survival is now driving policy. Unfortunately, what benefits them is generally harmful for the economy.
It is improbable that Bernanke's strategy will gain enough traction fast enough. Two years have gone by, and inflation is decreasing, rather than increasing. Mr. Bernanke has thrown more than anyone dreamed at the problem with no results. Thus, a home-run pass somewhat like the one discussed becomes more likely. It will be a surprise when it comes.
Nothing discussed here or tried by the administration will solve the economic problems of the country. What I have suggested is what could happen. It is not to be confused with good economic policy. Both the hypothetical measure and the more conventional inflationary strategy will lead to hyperinflation.
Inflation is not an economic event. Short of an inept Central Bank, inflation is always a political event. It is never a solution to an economic problem. It is employed out of desperation. When economic and political problems are intractable, the political class is apt to do anything to retain power.
Protect yourself, your family, and your wealth in that order. Do not expect any help from Washington. The political class is not your friend, especially when its survival is at stake. Women, children, and other citizens will have lifeboats only if there are any left after the rats have escaped the sinking ship.
The political class's survival is at stake. Eventually, anything that extends their rule will be tried. It is not concern for you or the economy that is driving policy, but the preservation of power of an increasingly wounded power elite. Their survival is now driving policy. Unfortunately, what benefits them is generally harmful for the economy.
It is improbable that Bernanke's strategy will gain enough traction fast enough. Two years have gone by, and inflation is decreasing, rather than increasing. Mr. Bernanke has thrown more than anyone dreamed at the problem with no results. Thus, a home-run pass somewhat like the one discussed becomes more likely. It will be a surprise when it comes.
Nothing discussed here or tried by the administration will solve the economic problems of the country. What I have suggested is what could happen. It is not to be confused with good economic policy. Both the hypothetical measure and the more conventional inflationary strategy will lead to hyperinflation.
Inflation is not an economic event. Short of an inept Central Bank, inflation is always a political event. It is never a solution to an economic problem. It is employed out of desperation. When economic and political problems are intractable, the political class is apt to do anything to retain power.
Protect yourself, your family, and your wealth in that order. Do not expect any help from Washington. The political class is not your friend, especially when its survival is at stake. Women, children, and other citizens will have lifeboats only if there are any left after the rats have escaped the sinking ship.
