Not sure what you're saying... I don't see any "ideal system", nor any "chosen people". But to hyper-inflate means currency destruction and the bankruptcy of nearly all of us. Even if we had a depression, we'd recover... inflate us to oblivion and America will be owned by somebody else.
Libertarians are for, among other things, financial responsibility. That's the only way the integrity of our money is maintained. Destroy a nation's money and you destroy its people.
I am amazed there are still so many fans of a 'washout' and a stance to 'let the market take care of things, it can handle it' or 'another Great Depression is better than bailing out banks'. Most here - including myself - are too young to vividly even remember the worst post war recession of 1980/82 let alone WW2 or the 30s. Talk to your grandparents; it sometimes can be very instructive. Let them tell you about hunger, disease, poverty, crime & violence committed for food. Mass unemployment at 25%+, thousands and thousands of companies going bankrupt. Banks simply refusing to open as they hoarded cash and putting 'on vacation' signs in the doors. P.s. Isn't it ironic how Jim Rogers comfortably fled the US and then goes on air feverishly calling for a laissez faire washout policy as the 'best medicine' for the US risking a banking meltdown and another Great Depression - while he moved his residence, his family and all his assets to safety out of the US over to Asia.
Presently the medicine is worse than the illness. I'll post this in black bold letters so that my message is clear:CURRENCY COLLAPSE(not just the Dollar) IS A POSSABILITY. It's laughable when folks talk about their grandkids someday paying for our ills. Don't worry, We'll do plenty of suffering. When one sees a day like today it makes you think: Stocks down 200pts Even with OIL down almost 3 bucks. Yields lower on stock weakness. Weirdly the dollar off only a bit But contrary to many of todays fundamentals, GOLD closed ten dollars higher. Unlike many of you I don't associate 900 gold with âdepression.â Gold isn't going to break until the Fed, ECB, BOE and BOJ find an alternative solution to banking other than monetization. Waiting for Godot would be the better bet. My guess is assets will continue to get crushed. That'll cause IT weakness in commodities. Global will slow down too. Tax receipts will take a beating also. At a time when American's want a bigger domestic government. Good luck with that........ But the next leg could be all out hyper inflationary.
I'm very flat right now Wag's. I'm a bit micro bearish on a lot of stuff that I'm macro bullish. I've been long a lot of high yield oil related stuff for my formally all Treasury trust and I made in 3 months what that account pays me in a typical year. That ride might be over though. For now. As we both know new Phoenix's rise from every ash heap......
Excellent news my friend! I'm learning all I can about these shale formations like Marcellus, Haynesville, Balkken, Barnett, etc. Can't wait to listen to the Chesapeak CC tomorrow morning at 9AM EST. Seems like the horizontal drillers are a great way to play it, among the deep offshore guys like RIG and DO. Maybe even NOV, who makes the rigs. I dipped my toes in the Energy Drilling Sector back in '98 when I was associated with a hedge-fund in Greenwich, CT and was 8-9 months early. The funny thing though is that there were a ton of energy analysts that were all to easy to speak to, because their phones weren't ringing . . . Portfolio managers were far too busy chasing the Doubleclicks and JDSU's of the world. As a result, I got to pick their brains and learn about the various companies and sectors. I learned a lot. But was way too early for my own good, as usual. It was like watching paint dry as oil got all the way down to $10. But then "The Economist" gave the ALL CLEAR (this is the bottom) signal with a front cover story about the World being awash in crude. But again, people really didn't start getting involved in the sector till the peak and rotation out of the NASDAQ in 2000. Remember that magazine cover, Pabst?