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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST
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To: elmatador who wrote (88756)4/4/2012 6:29:26 AM
From: THE ANT  Read Replies (1) of 217786
 
Brazils debt was in dollars MMT theory would not have helped them..MMT only helps to see that there is no such thing as defaulting on ones debt except by inflation (or by choice as Russia did)---if the debt is in your currency It also shows me the awesome power of capitalism to produce wealth as inflation would be much higher with all the printing going on had not capitalism been producing real growth.MMT is also only of real interest for a little while as true inflation is on holiday (raw materials+wages).When wage inflation returns printing does little good and will be kept at a level such as 4% a year which will show up in the stats at 2% a year.At this time due to deflationary pressures we can print at 10% a year with inflation of 2-4%.Any less printing and houses fall further.We will print until full employment and then run into a brick wall.Things look better now than they actually are because of easy money helping corporate profits.Did you see Epstiens editorial in Barons last week? He calculates after inflation GDP growth of 0.3% a year per capita in US over the next 30 years.So much for green shoots, this is about as good as it gets for the US in the next 30 years.Many short accelerations with many brick walls ahead.Have you seen all the new programing on US cable TV : Living Abroad,International House Hunters ? It is no longer Go West Young Man........It is.... Get Out and Send us Back Some Money Young Man
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