Our incoming president is doing the right stuff, imho. Let
the banks take it and save the main street and the
manufacturing. Restructure the economy so that it is
self-sufficient. Invest in real production instead of
fictitious economy. This is the
right program, but the execution will be extremely difficult,
especially since everyone is broke, including the government,
and these actions will undermine the dollar. I'm 100% behind
that team, linking Obama to FDR. FDR was reelected 4 times,
then no more than 2 terms were allowed -g- Some degree
of USD devaluation may be necessary, 2 Trillion additional
UST debt does not increase the 70 Trillion government liability
problem by that much. SS and medicare are the huge pains
for the intermediate term future (5 years), and he will need
to do a reform - perhaps, some form of nationalization of the
medical care. I heard some views here on SI, and it seems now
the care costs went up a lot, but doctors' salaries stayed put,
so the insurance industry pockets the money.
Large government assistance is absolutely critical, as well
as some printing. The liquidationists have been wrong during
the Great Depression, they are wrong again. As long as all
the help is directed toward the real economy, not Ponzi
finance, there will be no hyperinflation. On the other hand,
if more of large scale derivative/financial system bailouts
happen, we are doomed ... |
