Thursday, November 11, 2010

The Emperor Has No Money

And his decision to create vast amounts of it out of thin air is not sitting well with the vassal states who will bear the brunt of the damage it will cause, as these stories report — As Obama arrives in Seoul, Fed decision clouds G-20 debate and Obama calls on G20 leaders to do their part.

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Blogger Mark in Spokane said...

Yup, the game is over -- the massive deficit spending simply won't be tolerated much longer by our foreign creditors. Hamilton's wisdom -- that a manageable and reasonable deficit (managed through a national bank accountable to the constitutional representatives of the people and backed by assets held in gold and silver) could be a blessing -- has been deliberated distorted to the point where we are now simply printing money and expecting others to accept our worthless paper. And like every distortion, the lie eventually comes to light. And then the people stuck with that worthless paper -- the Germans, the Chinese, the American tax-payer who pays his or her bills and saves his or her money -- aren't happy.

2:25 PM  
Blogger The Western Confucian said...

Alas, it does seem that this may be the beginning of the final countdown. When I heard liberal Chris Hedges speak of Weimar-style hyperinflation yesterday.

It angers me that people like my parents, who never trusted the stock market, let alone anything as stupid as derivitives, but rather saved heavily, are the real losers.

11:55 PM  

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