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| Economy |
| Son of QE2, This Time It's Deadly |
| 2012-09-21 |
| by Sarah Hoyt It is perhaps a feature of human life that the things you laugh at as a kid are the things you tend to be, do or think as an adult. As a kid who was always very interested in both politics and economics, my favorite objects of derision were the gold bugs and the UN opponents. As we know more about the UN, from the rampant corruption that vanishes billions and manages to make things even worse in the third world countries and other kakistocracies in which it purports to intervene to child prostitution and exploitation of natives by UN troops or envoys, I find myself thinking the old guys who said "UN out of the US" were perhaps much brighter than I gave them credit for. (To be honest, unlike most of the kids today who are getting this soft-lit version in school and the idea the UN is some kind of super hero -- I never thought it was good for much but talk-talk, but I thought as such it was inoffensive, and perhaps a show of good will.) As for the gold bugs... |
| Posted by:g(r)omgoru |
| #3 +1 the US economy is facing a major structural shift. we have got to get away from being a service-based economy and back to relying on manufacturing & technology. if we can make the jump - tough as that may be - our long-term future is good. but if we fail to make the jump ... we're gonna land in a full-fledged depression. right now .. we're pretty shaky. i find it personally disturbing that neither of the candidates are really addressing this. they're all talking about the symptoms instead of the disease. the Fed has just gone to QE3. practically, it means that they have put our entire economy on continous (financial) life support. the trouble is - there's nobody around to pay the hospital bills that keep mounting up while they do that :-) |
| Posted by: Raider 2012-09-21 21:57 |
| #2 I'm afraid that we are going to have to endure a period of falling wages and rising prices for some time. We have deep structural problems with our economy as we make a painful and cumbersome shift from manufacturing to whatever it is going to be our future. I don't see any meaningful changes or even honest talk about what is going on between our 'leaders', I don't think they know any more than us about what is going on or where we need to get ourselves in order to recover. They are stabbing in the dark and in a bit of a panic at this point. I don't think trying to save a few billion here or there is going to do the trick, we are going to have to devise and implement an entirely new paradigm to deal with the realities of this new world. This has been a long time coming and is very overdue. We are still struggling to get things back to the way they were before 2006, I think that might be wasted effort, we should be looking ahead. Fatalism and Nihilism are worthless to us. It doesn't do a damned bit of work to get us where we must go. |
| Posted by: bigjim-CA 2012-09-21 12:29 |
| #1 Weimer Republic hyperinflation. |
| Posted by: JohnQC 2012-09-21 10:45 |