John,
Yes I live in the "beltway", but I grew up, and still have strong roots in, an agricultural area where the our town's population consisted of 6,000 people.
I was educated in the west as well. Thus, I'm not immune or ignorant of what's going on.
What's your alternative?? Revert to the gold standard and make the situation even worse as a result of the incredible disruption that would cause??
Remember, I'm the guy who brought up the whole subject of economic disruptions in the first place when we were discussing Bill Murphy's proposed "short squeeze" on gold.
I would appreciate being given a little more credit here. From my perspective, those of you who advocate the return of gold, consequences be damned, are the ones who are insensitive and selfish.
Again, it doesn't matter whether money is backed by gold or the "full faith and credit" of the nation issuing it. What matters is that confidence is maintained and people willing to consume, save, and invest. (in that order) Right now it's consume, invest, and save and that may come back to bite us in the future.
Regards,
Ron |
