The Fed printing a trillion dollars to buy US treasuries + The Fed printing trillions more to fund Timmy's Bailout Bonanza + China clearly concerned with depreciation of the US Treasury debt it owns + The Fed maintaining ZIRP (Zero Interest Rate Policy) + Obama's budget, TARP, the stimulus, and everything else we've already spent + UN telling the world to stop using the dollar as the world's reserve currency = Big smoking crater where the US dollar used to be.
When China eventually stops buying US debt and we're forced to print money to do so, inflation will basically finish off the economy.
This week has basically brought the odds of a multi-year depression up to "frighteningly realisitic".
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment