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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: UncleBigs who wrote (62280)5/31/2006 1:55:11 AM
From: GST  Read Replies (2) of 110194
 
In 1929 we were not borrowing trillions of dollars from foreigners to fill the gaping wound in our economy called the current account deficit. Had we been in that position, the crash of '29' would have led to severe inflation. We, collectively, owe trillions of dollars that we cannot hope to repay and we are dependent on finding stupendous new amounts of offshore cash each year to keep our heads above water. When the dollar is finished being turned into toilet paper on international currency markets, it won't buy you jackshit. That is called inflation.
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