The only difference between the Greeks and us is a printing press

Discussion in 'Economics' started by Cazza La Randa, May 29, 2010.

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  2. NumLock


    Anyone who believes that Federal Reserve (our private central bank)

    is going to save us from debt they themselves piled on USA
    is a fool of major proportions

    You wish you'll Great depression. The big boys have a War in plan. And they want to see a whole lot of you dead.
  3. Not entirely true. We have better weapons and Bretton Woods too. Plus the US has had many instances over the last century of hard work. Please show me that will the Greeks. The have a history of being lazy.

    And regarding Fleckenstein, he is dead wrong on Deflation for now. Learn something about the velocity of money . All prices are down, food, gas ( seasonally adjusted ) housing, etc. Go ahead idiots buy gold at the high you are going to get creamed. Inflation in the future but not for 2 years at least.
  4. NumLock


    The point OP is making and rightfully so is if you take a look at US deficit and US national debt.

    How can you not see the Greece in the mirror
  5. I agree with deficit spending views compared to Greece, but there are plenty of differences.

  6. Gold is not for inflation this time around, but for the massive dislocation occuring in currency markets. I'll take it over reckless, irresponsible fiats anyday.
  7. There are two kinds of inflation:

    (1) Inflation rate reported by government

    (2) Real inflation rate

    If the governemnt purposely underestimates the inflation rate during periods of price rises, like in 2006-2007, the total effect on cummulative CPI is very pronounced and so is the effect on purchasing power.

    Then you have some people saying that gas prices are low now. This is a totally irrelevant observation. The issue is whether they accounted for the jump in prices when it took place.