Brice Timmons

Financial Crisis: This Is the Real Deal

This is, actually, quite bad. No, it is not 1929. We have significantly more wealth than we did in 1929, but the collective drop could be as bad in relative terms. If it is not, and we delay the impact of institutional collapse through deficit spending and nationalization of debt, then we will merely be setting up the next crisis. The debt must be serviced either through actual tax hikes (bad for business) or inflation (bad for business). The market will punish bad decisions, period. We can do it now, perhaps in a controlled fashion, or we can do it later, perhaps in a more violent fashion.