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  • Obama Doubles Down [View article]
    B.O.'s administration will be in two parts, perhaps comprised of a first term and a second term. At least that's his plan. In the first part, the severe deflationary recession we have now will be put to rest by a "new deal" type expansionary policy. In the second part, the 5-10% inflation that results from such an expansionary policy will have to be controlled by cutting spending, raising interest rates, and selling all the assets the government bought during the initial crisis. As I said, at least that's the plan.

    Yet I doubt Obama wil be able to (or even try to) overcome political reality and force fiscal discipline on an America that - amazingly - still doesn't believe in it. Do you think the retiring baby boomers will vote against their own self interest to roll back Social Security or Medicare? Have they EVER voted against their own self interest for the greater good? No.
    Jan 07 17:35 pm |Rating: +8 -3
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