I am pretty sure that this article will cause an uproar amongst the doom and gloomers. It is fun to work ourselves up into a tizzy talking about the the collapse of America. Anyone who doesn't seem to admit America is bankrupt and the dollar is about to collapse is an idiot who just doesn't understand the economy. Everyone knows China will stop buying our bonds and rates will skyrocket. Everyone knows bonds are in a bubble and you have to own gold. Stocks will collapse with the financial system, so it might even be wise to only own hard assets.
The problem with this that I see is it creates never ending fear because on the surface, it seems logical. Guys like Schiff can forever call for the inevitable collapse of America, but because he never has to put a date on it, he can never be wrong. We can for another decade (he has been talking about it for more than one so far) be told that it is just around the corner.
Now that Bernanke had another "60 Minutes" interview, the froth is starting yet again. The Fed is losing credibility because Ben is lying, so the saying goes. In the first interview, if you have seen it, Ben says through the open market operations, that he is "effectively" printing money. In the second interview, he says, " We are not printing money."
So which is it?
Well, if you are a doom and gloomer, America will die any day now kind of person, then you have to believe Ben was telling the truth in the first video (of which you have to be given credit because you truly don't believe anything he says), and lying in the second. If you are less conspiracy theory bent, you will believe he is telling the
