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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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From: Eva	7/25/2011 10:55:35 AM
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update -- trotsky, 10:20:20 07/25/11 Mon The Debt Ceiling Dance There is nothing new about the debt ceiling being used for political brinkmanship. The party out of power accuses the one in power of fiscal recklessness and demands change. Usually this allegation is quite correct, but it's the pot calling the kettle black. Neither party is fundamentally opposed to statism in its various forms and the deficit spending and money printing deemed necessary to implement it as thoroughly as possible. Without an irredeemable fiat currency, the public debt could never have grown to its current size, and there is consequently very little appetite in the political class to even discuss monetary reform. A host of public intellectuals directly or indirectly in the State's employ supports the current system with propaganda, but its grip is weakening lately. A look at how the debt ceiling impasse may influence markets over the short term. Longer term it is unlikely to have much influence, but in the short term some existing trends may be reinforced and others reversed. acting-man.com

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