cotton . . . agree that the fiscal cliff cannot be dealt with.
The U.S. has already hit a brick wall. There is no way to fix this mess. Do you pay the piper now or do you drag it out a generation? Politicians will chose the latter. Nobody wants to be accountable in the gov't world.
The U.S. money printing button has now been pushed 3 times . . . with less and less impact each time. QE3 may be looked back in history as a major failure and will make little difference to the U.S. crisis (IMO). Germany tried to print their way out of economic crisis after WW11. It did not turn out well.
Bernanke can only call wolf so many times. And both his impact and term are likely running out.
To me, commodity deflation is a real risk between 2013 to 2015. And this will sting those with heavy personal and business debt loads.
The U.S. has already hit a brick wall. There is no way to fix this mess. Do you pay the piper now or do you drag it out a generation? Politicians will chose the latter. Nobody wants to be accountable in the gov't world.
The U.S. money printing button has now been pushed 3 times . . . with less and less impact each time. QE3 may be looked back in history as a major failure and will make little difference to the U.S. crisis (IMO). Germany tried to print their way out of economic crisis after WW11. It did not turn out well.
Bernanke can only call wolf so many times. And both his impact and term are likely running out.
To me, commodity deflation is a real risk between 2013 to 2015. And this will sting those with heavy personal and business debt loads.
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