You lied to me. I'm gone.
It looks like the Fed will be printing up to $3T late this year or early next in their final attempt to halt deflation. Bernanke and crew prefer a little inflation but quantitative easing is a hammer, not a trimpot tool. We may end up with deflation and hyper-inflation concurrently.
Investors are pushing gold and silver prices higher as they see the Fed preparing to fire up the printing presses again. The recent run up of stock prices reflect investor desire to own equity more than good economic news. As the Fed prints money and buys treasuries the interest rate on those instruments will fall to zero.
This is a huge gamble by the Fed but nothing else has lifted the economy out of depression. I suppose the Fed hopes that the unwashed masses see changes in the economy that they mistake for improvement then start spending again.
But what has been lost is trust. The Fed printing an unimaginable number of dollars is not going to restore the confidence of people who have lived through the collapse of their way of life. For most people, looking back, it's all been a lie. The safety of banks, investments in GM, home equity, your pension, your job all just vanished overnight without explanation. While you cut back your spending the government prints, borrows and spends two, three, one hundred times more.
Where did all the money go? Was there ever that much money at all? What else is a lie?
You can love your spouse with her pimples, odd habits and bad days so long as you can trust her. But if you start finding money missing from the checking account you begin to wonder if the zits are really herpes, the oddities are madness and the bad days are because she is the biggest mistake of your life. Love goes and then you go because trust is gone.
Everyone and everything starts out with a measure of Goodwill. It will carry you through the bumps and blunders of life. But once the Goodwill is gone, it mostly never can be restored. One can forgive but not forget.
The leadership elites of this country and the world have utterly destroyed all Goodwill. People wonder "what else have you lied about?" Buffett, Obama, Republican and Democrat politicians, business leaders and such just don't get the common man's anger. The trust is gone. Why are you still visible and talking? You lied to me. I'm gone.
Investors are pushing gold and silver prices higher as they see the Fed preparing to fire up the printing presses again. The recent run up of stock prices reflect investor desire to own equity more than good economic news. As the Fed prints money and buys treasuries the interest rate on those instruments will fall to zero.
This is a huge gamble by the Fed but nothing else has lifted the economy out of depression. I suppose the Fed hopes that the unwashed masses see changes in the economy that they mistake for improvement then start spending again.
But what has been lost is trust. The Fed printing an unimaginable number of dollars is not going to restore the confidence of people who have lived through the collapse of their way of life. For most people, looking back, it's all been a lie. The safety of banks, investments in GM, home equity, your pension, your job all just vanished overnight without explanation. While you cut back your spending the government prints, borrows and spends two, three, one hundred times more.
Where did all the money go? Was there ever that much money at all? What else is a lie?
You can love your spouse with her pimples, odd habits and bad days so long as you can trust her. But if you start finding money missing from the checking account you begin to wonder if the zits are really herpes, the oddities are madness and the bad days are because she is the biggest mistake of your life. Love goes and then you go because trust is gone.
Everyone and everything starts out with a measure of Goodwill. It will carry you through the bumps and blunders of life. But once the Goodwill is gone, it mostly never can be restored. One can forgive but not forget.
The leadership elites of this country and the world have utterly destroyed all Goodwill. People wonder "what else have you lied about?" Buffett, Obama, Republican and Democrat politicians, business leaders and such just don't get the common man's anger. The trust is gone. Why are you still visible and talking? You lied to me. I'm gone.
posted by lugh lampfhota at 10:41 AM
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