Malkiel

The High Dividend Stock Investor's Collapsing Dollar Survival Guide, Part 1

It's amusing to see how dangerous a little knowledge can be. Wachtel is a CPA, not to my knowledge an economist or political scientist, so the judgement about "The Ayatollahs ... (correctly) view[ing] Obama’s desire for “dialogue” as weakness," is typical right-wing hot air without any substance, and the usual stereotyped complaint "that the U.S. Government is planning to print a lot more dollars in order to revive its banking system and its economy" ignores the fact that the private banking system was "printing dollars" for decades with its synthetic promissory notes, and now that all those fake dollars have evaporated we are more likely to a have period of deflation as real assets are sold off at fire sale prices to pay off debts. Maybe the market can't bottom until all the Reagan babies on Wall Street have their dogmas burned away by the new economic reality and are ready to jump back into the market as it will be structured in the new American social democracy under construction...