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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (102515)9/26/2009 1:42:06 PM
From: Skeeter Bug1 Recommendation  Read Replies (2) of 116555
 
mish, i know you've painted yourself as a member of the deflationist camp - as opposed to the inflationist camp - but do you see inflation as the *end game*, as opposed to what we will likely face in 2010 and, possibly 2011?

i think we get deflation first, but i also think the government will stop at nothing to stoke inflation above at least 10%.

why? inflation transfers wealth from the people to the government without explicitly raising taxes - a government in massive debt can't turn that down, imho.

they can pretend for a while, as we are doing now, but when TSHTF, they will need to extract money from the populace and that is the least politically damaging route, imho.

each above the poverty line, non retiree household in america owes over $1.2 million in UNFUNDED obligations (not even counting funded obligations which are massive, too).

this is *impossible* to pay back unless the $1.2 million is turned into something closer to $60k.

how does $1.2 million get turned into $60k?

oh, and the $1.2 trillion figure is growing incredibly facts.

i would appreciate your insight.

ps - i don't think the politicians will be able to stomach hacking all the promised programs - look at obama. not only isn't he hacking programs, he's trying to add them as fast as he can!
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