everyone right at some stage or other its all about timing
wait long enough, no matter who you are everyone has a turn at being the chop
its pretty safe being contrarian these days, folks look up its a pretty high probability they should be looking down and visaversa
if folks are look at the USD crashing because of money printing there is a pretty good chance that the euro is worse
these dasy are about general mania and delusion, lets face it we just had a couple of decades where most of the grwoth was simply debt expansion
folks saw their house go up in price instead of the dollar lowering in value, it was look Ive gained all this equity not OMG look my dollar doesn't buy hardly any of a house now
folks are are ready to believe anything, after the greatest debt binge in history folks believe that more lending will save the economy
both sides of politics believe more debt and higher housing prices are popularist
they can even borrow money and give it to folks for free via home owner grants and its ok by everyone
they can write a 900 cheque and thats ok as well
if folks cant borrow or wont then the government will for you
so yeah folks want something to believe in, gold, Obama, someone or something is the solution to everything
all you gotta do is believe
trouble is its all been said and done before
not until folk start talking sensibly are we though this, till they start respecting money, till they start saving, till folk have paid down the debt, till folk look at homes as places to live instead of casino tables
Steve Keen makes a good fist of the arguments
http://www.debtdeflation.com/blogs/
being wrong just makes you more correct, if you can find a flaw, when its discovered its corrected, the problem with this scenario is the massive private debt is a fact, most of our prosperity has been based on a lie, the lie of growing debt.......this cant be made disappear it needs to be paid down, Kevin might be able to give away $900 but he hasnt got the money to pay our debt down.....neither has Obama..........half the worlds governments are still serving credit but the diners are fed to the gills ....so all that debt based expansion stops in its tracks......, incomes fall, debt payments fail, assets get sold for less and less
Its like living on your credit cards, it might impress the neighborhood for years but eventually it all comes home to roost, thats the problem here folks think the folks that have lent the money are happy with devalued currency in return, yet the folks that have the money are still the folk we rely on, is it really that credible that the saving nations will accept less than a fair return and still keep lending?
the USD will have to stop spending, it will have to live wihtin its means, trim its budgets, trim its armies, trim it subsidies, so will the entire west
look around where is the inflation? milk, eggs, bread, RE, petrol, televisions, wages, credit? pork chops? where?
