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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (26009)3/20/2005 6:17:22 AM
From: Crimson Ghost  Read Replies (1) | Respond to of 116555
 
The key point is that living standards for the great majority of Americans are headed lower.

In a gold anchored monetary system the mechanism to accomplish this would undoubtedly be deflation. But in a fiat system where the Fed can monetize almost anything if is inclined to do so I am not so sure.

The Fed can be expected to tighten just enough to prevent the dollar from totally collapsing IMHO. Once the threat of a dollar collapse is averted, I look for them to again return to their ultra inflationary ways.

And this applies double if Ben (helicopter money) Berhanke is appointed to replace Greenie.



To: mishedlo who wrote (26009)3/20/2005 9:21:40 PM
From: Earlie  Respond to of 116555
 
Mish:

Excellent comments. Totally agree with you. In years gone by, I sat on a few boards and clearly recall some bitter battles over "executive compensation". You have rightly called them what they are.

Sooner or later, Americans are going to rebel over much of what is going on. I hope I am around to see the fireworks.

Best, Earlie


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