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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Tommaso who wrote (78488)2/5/2007 11:02:50 AM
From: GST  Read Replies (3) of 110194
 
<monetization of debt> 2 trillion for war, 2 trillion for tax cuts -- you have to expect this sort of thing. Vietnam set the stage for a period of stubborn inflation. Iraq is setting the stage for this generation -- only this time the pressures are far greater. Monetization of debt creates the temporary illusion needed to carry on day to day. It can not end with a stronger dollar. It cannot end with lower prices in dollars. It can only end with the debasement of the dollar. And there are those foolish enough to believe that a lower dollar will be good for us. It is good for us if our goal is an ever lower standard of living with ever higher prices.
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