You write stupid things I say 30 years of deflation _after_ Civil war was because there were _NO_ money printing during that time because US was on gold standard during Civil war South _had_hyperinflation_ because they _implemented_QE_ is it difficult to comrehend that excessive QE is the_only_ reason for hyperinflation? and you 're not safe with unemployment 8% and that regime change doesn't cause hyperinflation unless you get QE maybe you should read some literature about post civil war gold standard?
Always the predictable response. These guys set the house on fire and we congratulate them for extinguishing the fire. As said many times before, the time to act was obviously many years ago before the leveraging of the financial system reached epic proportions. That said, even if they had addressed these issues in 2007-08 and decided for an orderly liquidation, unwinding of troubled assets, divested the largest banks and actually spread the risk instead of consolidating the risk and leverage into fewer institutions, things could have been managed better. Instead, the "extend and pretend" went into overdrive and now with no organic growth or natural demand, they have assumed the central role in every aspect of this economy. Hence, POMO has become a daily situation, out in the open with everyone to see and BB has even gone so far as to state his objectives to prop assets and try to continue this failed ideology of the "wealth effect". I get a kick out of how the few that used to state that this was EXACTLY what the Fed was doing during the 03-07 boom were laughed at and called all sorts of derogatory names. It was all "conspiracy".
Who cares anymore. Nothing you can do to prevent it. All you can do is take care of things on your end. If your making good money, Keep making good money and you know what to do. If your the average american, your fucked. Only thing you can do is pray that you do not loose your job and get rid of the house and car you can't afford. DOWN SIZE!!!! or enter into proverty. If your the Average American who understands what is happening, then you have decided to do the proper thing and are doing it. I wish you all the best. It is outa our control, unless Americans storm DC. Which I doubt will happen.
There is talk about raising the retirement age to 68 and 69 over the next several decades and eliminating the mortgage interest deduction. And to that the response from Americans was.....notta, nothing. In France they go from 60 to 62 and the country pretty much catches on fire.
Why don't we just send everyone a check for $3 trillion, then? I see the Latin in your screen name, so hopefully you'll recognize the reductio ad absurdum in all this money-printing. And no, a high unemployment rate is not some foolproof safeguard against inflation. All the unemployment in the world couldn't save post-WW1 Germany, Argentina at the turn of the millenium, Zimbabwe, etc.
We've raised the retirement age before in the U.S., and there have never been any mass protests. For that I'm glad. There are things we should march in D.C. for, but fighting to save every penny of entitlements/welfare/other dole isn't one of them.
I disagree because you aren't entitled to Social Security unless you pay into the system. That being the case, it doesn't qualify as an entitlement. It qualifies as forced savings. Unfortutely, Congress moved the funds into the general fund and now all that's left is a bunch of IOU's and one big ponzi system. The only way to fix it is to raise the retirement age and reduce SS and Medicare benefits.
Well, many people also get it for disability. Some are certainly disabled. Others, well... I agree that paying into makes it very different than most entitlement programs. But I'm not sure if you should be locked into an age at some point. When SS started, life expectancy was around 62. The retirement age has only gone up by 4-5 years since then while people live much longer. It wasn't intended to be something to "live off of" for 20 years.
I was under the impression the US went off the hard currency route in 1861, and didn't resume it until around 1880.