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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (38425)	5/18/2011 11:55:55 AM
From: benwood	5 Recommendations Read Replies (1) \| Respond to of 71463

Your anecdotal data aside, the Great Depression hurt millions, wiped out millions (bank failures with no insurance), what, 30%? unemployment, or more, yada yada. Regardless, we'd have been better off taking our medicine post Nasdaq bubble bursting, ditto the banking disaster. Even people way more brilliant than me say we had to do something then (Faber said this, I believe, in an interview I watched); however, I don't agree with what was done. I think the disaster was partly manufactured, as the rep from Oregon said (of the bailouts) that the banking sector put a gun to their own head to coerce the shift of responsibility of their losses taxpayer bagholders. There were other ways to handle the banking sector, and I saw some proposed (Mish I think wrote about some) where they'd end up being owned by us rather than simply made wealthy by us. And many should have just been allowed to implode completely and then strong regional banks with somebody not insane at the helm would have had space to grow into the void. We'd be fine, in my opinion, with $100 oil, esp. without the extra tens of trillions of toxic waste we are backstopping. We'd damn well better be fine with $100 oil, because if we aren't, how will we handle $150 oil, then $200 oil? Just a matter of time, as it's a depleting resource against a backdrop of an escalating demand structure. Instead, we have a perpetual housing crisis, debt up the wazoo, the rest of the world looking for a way to get off the dollar, the forecast for China to match our economy moved up from 2027 to 2020, no growth industry in the US as all resources go to WS skimmers, perpetual war, high retail inflation, a retired class which grows more impoverished by the hour yet gets blamed for much of the mess they didn't create and they can't control. And not a single financial terrorist from WS is behind bars. For that generation where so few stole so much from so many, we had the pretend criminal Martha Stewart, and then Bernie Madoff quickly being imprisoned with his guilty plea so that no embarrassing duplicity within the SEC or elsewhere in the gov't could be made public.