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Politics : President Barack Obama
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To: Nicholas Thompson who wrote (54876)5/25/2009 4:43:40 PM
From: RetiredNow  Read Replies (1) of 149317
 
Nicholas, just wanted to point out that your inflation expectations of 1.5% in the future are a pipe dream. With all the debt this country is taking on, we likely will have a massive inflation hangover coming dead ahead when the economy starts to recover in earnest. You might have noticed that the dollar has been weakening with signs of the economy picking back up. Also during the Bush Admin, as our debt doubled, the dollar plummeted. That is going to continue as Obama doubles the debt again during his 8 years.

Here's the reality of what we can expect for the next 10-20 years. We'll see tepid growth, more along the lines of Europe, with bouts of high inflation. The stock market will be lucky to see 7% annualized returns, while your risk-free rate of return will barely help you overcome inflation.

The only thing on the horizon that I think has the economic mass to save us from this fate is if we can somehow help the world create the urgency around converting the world's energy to renewables, and if we take the lead in those technologies. That might help us grow our way out of our debt. Cross your fingers. Even with Obama being the right man at the right time in our history, the GOP is a formidable foe and their oil lobbyist friends will stop at nothing to derail our emergence as a renewable energy super power.
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