Jubilee Year

Monetizing the Debt: Explanation For Non-Economists, Bankers and Other Laymen

And thus, the Baby Boomers destroy that last remaining legacy of the great country they inherited: the strength of the dollar. Flooding it with third world laborers and outsourcing its industrial capacity apparently weren't enough.

They also seem more than happy to enslave their offspring to support their old age, though debt and social security.

Truly, they are the most wicked generation in history.

Quantitative Easing and the Disappearance of Income

The debt doesn't really hamper future generations. It is actually a form of taxation in effect today, by diluting the value of our current money.

Doug Casey: What to Do in 'The Greater Depression'

Dean, you said, "Forget economics, if we 'hired' the debt, then we have a moral obligation to pay it. "

But "we" did not hire the debt. It was created on our backs, without our consent.

If you sell yourself into slavery, yes, live with your choices. But no one has the right to sell someone else into slavery!

Doug Casey: What to Do in 'The Greater Depression'

I commend Mr. Casey for the calling U.S. debt default a moral obligation. He is correct. It is immoral to sell your children into slavery. Instead of paying for their own lives and problems, the current political class is trying to foist such payment off on their children.

As for calling the US more socialist than the Communists, he is correct. In China today, for example, individual citizens have to pay for their own healthcare and retirement. Thus, they save, providing their economy and government the capital to invest in their future strength.

Meanwhile, the U.S. government is planning on increasing social expenditures, tripling the deficit, while expanding socialized medicine, while attempting to "jump-start" debt-based consumerist spending, in the teeth of a Greater Depression.

The root of every hyperinflation is the same: a government that refuses to face economic reality. Tell me how we are not there?

U.S. Records Huge Trade Deficit

The trade imbalance is not a product of the free market, it is a product of foreign government policy, hoarding dollars to keep their currency low, to their own economic advantage. Why should we cooperate with their predatory policy? Decreasing US wages in the face of foreign attacks on our economy is hardly a legitimate public policy.

Thank you, Mr. Morici, for spelling out the negative consequences of the corrent global economic system, which are uniformly glossed over by the powers-that-be who are currently establishing trade policy.

ECRI: Worldwide Inflation Plunge Still Continues

If I interpret this correctly, the coming deflation will suck up all bailout and stimulus funds. How much Quantitative Easing would they have to do to reverse the trend? Is it even effective at all? Or is it just good money being throw after bad?