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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: pogohere who wrote (92374)3/17/2008 8:52:13 PM
From: GST  Read Replies (1) of 110194
 
It is ludicrous to think that the price you pay for living is going to go down because your assets are depreciating. When your assets depreciate and the price you pay for living every day is going up, the implication is pretty damn clear -- you are screwed and there is no escape. If my house is now worth less than what I owe, I do NOT expect to go to the store and find that everybody has decided to give me a big price break on food and I do not expect the Russians to knock a large percentage off of my oil bill -- it does not work that way. And do you know why it does not work that way? It does not work that way because there are billions of other people in the world competing for that food and that oil. They are offering to buy that food and oil with currencies that are more valuable compared to ours -- and getting more so every day. They might get a price break -- but for us? No, we will get the finger, and the finger in a global economy the takes the form of raging inflation. The price we will pay for borrowing zillions of dollars from abroad to finance our consumption is inflation -- as you might be able to tell I have grown more than tired of those who pretend that deflation is anywhere in sight -- it is most certainly not. On the contrary, we are nearer to a meltdown of the dollar and hyperinflation.
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