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Strategies & Market Trends : The coming US dollar crisis
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To: axial who wrote (20903)6/21/2009 5:45:07 PM
From: GST2 Recommendations  Read Replies (1) of 71456
 
The inflation outlook is based on what is real -- here and now, not on some speculation about future events. You can if you wish conjure up a future that is radically different from the one we live in today and use that to create imaginary scenarios where we are not running massive deficits at the state level, the federal level, and on the current account. That sort of dreaming has its place.

But I am not referring to some possible future scenario -- I am talking about the most likely developments based firmly on current reality. Barring some almost impossible to imagine development, inflation is our destiny for the short term, the medium term and the long term.

What you speak of is highly speculative -- and most improbable, almost fanciful. We will have a lower standard of living, although many people will do well. The world will carry on without us and we will go through many dramatic changes. But in the end, no matter how much you wish it was not so, the fate of the dollar and the fate of prices in dollars is baked in the cake -- and in that cake there is a core of inflation that will only get worse. There is no 'money in the vault'. There is only a pile of IOUs that we have already begun to repudiate.
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