GST,
Yes, I agree, but there is a bit of a problem. 70% or so of our circus economy is built on consumption. Jobs, jobs, credit, credit, debt, debt, earnings, earnings. I had to list each twice, as the problems with all four are at least twice as bad as with any "recession" in our lifetimes.
But I'm sure the Street has already discounted for that, just like they did with sub-prime, financials, homebuilders, big banks, little banks, and (insert favorite here).
Inflate and the people get poorer. They consume much less and imported goods (which are the majority as it appears about 10-15% of our "stuff" is actually made here) cost much more.
This ends badly, of course.
GT
TH |
