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Good stuff.
Hopefully, some people will listen to him.
Regardless of your fears of inflation, it is undeniable that excess credit (i.e., the Fed dropping rates after the dot.com bubble) AT LEAST partially got us into this mess…
And yet, for some absurd reason, Barack, Tim, and Ben are actually trying to get banks to lend more and consumers to borrow more right now…
The definition of insanity is continuously doing the same thing and expecting different results.
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So true Rick. It is absolutely insane. As above, so below. We, as individual citizens, continue to do the same thing over and over. There is only so much excess the system can handle until it completely collapses.
The FED, as Peter Schiff likes to say, supplied as much booze as we could drink. The enabled, and we gladly pounded the shots, one after the other, until we got so drunk that, now, we are passing out. It’s either going to kill us, or we’re going to have a really really bad hangover for a while.
Mac
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