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There would be no housing issue if people had jobs, not any job but a job that helps our GDP, we can't do that because we simply can't compete with China.
Things seemed to look good in the past but in reality were were merely packing on debt to the nation. Now that daddy's credit line has been tapped and now the fun will really begin.
Say goodbye to unemployment compensation
Say goodbye to welfare
Say goodbye to foodstamps
Time to get off the couch America and come up with a plan.
Oh and just wait for the inflation to hit, that is going to be a trip.
Then it will be a trip 15 years from now, because that's about when it will hit.
Quote:
Originally Posted by Sky1
Why No Hyperinflation?
Well, that's an easy question. The government would have to increase the money supply by about 30% to 40% to get the kind of hyperinflation in the Weimar Republic (post-WW I).
The global economy is "such a mess" because every country is using un-back paper fiat "funny money". This is NOT a recession. This is a currency crisis. If you don't understand the difference, please look it up.
For decades now, the bankers had made oodles on getting us into debt (interest pays way better than working for a living). Now we are up to our collective necks in it -- private, business, municipal, state, and sovereign debt. The banks aren't lending much any longer, they are hoarding their cash. Individuals and businesses are going bankrupt because they can no longer access cheap "credit" (debt). Many states and municipalities are about to default on their bonds. The Euro is being devalued (yes, that's what all this matter of Greece is about).
Next, the US dollar will be devalued. It is happening as I write this. As long as you continue to hold your "wealth" in paper, you will lose. The next 20 years will be nothing like the last 20. I have said this before, right here.
Personally, I think the only paper with any value to it might be something signed by Picasso...
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