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View Diary: Where is the Hyper-Inflation (22 comments)

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    WiseFerret, jbob, Roadbed Guy, noway2

    As others more astute than I have put it

    We're seeing price drops in things we DON'T need.  You DON'T NEED to own a house, a new car, expensive clothes, huge flat screen TV's, etc.

    We're seeing price INCREASES in the things you DO need - food, basic clothes and energy.

    GOv stats are grossly distorted - see

    The US has benefitted immensely so far from its status as the world's reserve currency and the fact that Euro and other currencies are in worse shape than the $US

    But don't think you're safe in the dollar simply because it may be the LASt to collapse.  

    If you're in a group that jumped out oa a plane skydiving - as it turns out with defective parachutes - don't feel so good if you're looking down and seeing those that jumped before you hitting the ground.....  doesn't mean you're not going to hit too.

    Have had a varied career - worked at the NY Fed, on Wall Street.  Walked away a while back - fed up.  Have close friends still in finance who are dumbfounded at the current state of affairs.

     Nobody has learned anything.

    It's as bad or worse than 07 - and is going to blow up worse.

    Everyone is behaving like gamblers at a casino with other people's money.

    There are TRILLIONS in bogus derivatives out there that NOBODY understands, that are completely junk.

    None of those I know have any belief that this is going to turn out well.  They are convinced that the Fed and Treasury are clueless, throwing money at the financial sector while ignoring the abject collapse of the mainstream economy.   Banks and Wall Street are NOT and should NOT be thought of as the center  of the economy.

    BTW - all are convinced that markets are completely corrupt and manipulated and that the sole focus of those remaining is to grab what they can before the final collapse.  They are dumbfounded that NOBODY has been prosecuted. much less thrown in jail.

    IMO, Obama gave away the keys to the Treasury and by not holding anyone accountable has guaranteed an eventual collapse.  

    I had great hope for Obama but he has been a huge disappointment.  Saying 'A Republican would've been worse' is NOT justification for the abject lack of action.

    Life isn't fair but you should try to leave it fairer than you found it.

    by xrepub on Sun Apr 28, 2013 at 10:11:05 PM PDT

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