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

To: Jimh068 who wrote (96383)	4/12/2009 1:41:27 PM
From: mishedlo	3 Recommendations Read Replies (1) \| Respond to of 116555

Nationwide Tax Revolt Is Coming globaleconomicanalysis.blogspot.com Cities, states, and municipalities have a huge budget problem. That problem is caused by too much spending. The sensible thing to do would be to reduce expenditures. Instead Cities Turn to Fees to Fill Budget Gaps. ... Mish

To: Jimh068 who wrote (96383)	4/12/2009 10:26:57 PM
From: koan	Respond to of 116555

50% devaluation of the dollar is my guess as well, but I admit it is a blurr to me. Devalue the dollar and debt falls 50% in relation to gold at market. We can also dramatically increase our exports of food. >>Mish, very nice article. Thanks I was just commenting how with all this money printing by the Fed, no new money has shown up. I just base that on an examination of the currency. There are no bills in circulation newer than 2006. With the supposed 25% increase in credit/money we should have seen new bills. Then finding a few articles on our money system is now a credit system and not a fiat dollar system, this all makes sense. Debt to GDP has to come down. Until then we will have deflation. The only way to correct in less than a generation is allow bankruptcies to happen. Very little public debt can be paid off as the economy is not strong enough. I guess devaluing the dollar by at least 50% would work as well. All fixes will be painful.<<