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He's right.
Now that perpetual QE has been made official the only two long term paths are: 1) Horrible stagflation 2) Currency crisis/hyperinflation.
For those of you that remember the 1970's - this stagflationary cycle will make the 70's look cute like a newborn puppy.
For the record, neither situation will be better than the other. Stagflation will be long, very painful and destructive now and in the future. Hyperinflation will be merciless and downright hellish but for a MUCH shorter period of time.
I'm hard pressed to find arguments that contradict mass scale war in both scenarios.
As short as a few weeks ago, which I've outlined on RPF, there was a third option - mass scale deflation/loan adjustment. This option is no longer on the table (although it was the least likely of the 3...).
We're down to two primary paths now.
Last edited by Seraphim; 09-18-2012 at 03:17 PM.
"Like an army falling, one by one by one" - Linkin Park
I think there's a third way. The public could make up its mind to barter, including bartering silver and gold for goods and services. Then the FRN crashes so fast that they can print up enough to pay the debt in a day, and we're getting around the suffering.Originally Posted by Seraphim
Not perfect, of course--those on Social Security, for example, are unlikely to find COLA keeping up. We will still have to be community enough to help out the innocent victims. But if there's another way to reverse this transfer of wealth to the wealthy, I can't see it.
They aren't the only ones who could conceivably change the rules.
Last edited by acptulsa; 09-18-2012 at 03:24 PM.
The way I see it, this is a function of both paths...but only for the astute and those willing to solve problems where they can - locally in their own lives.
Let's face it, most people are going to get their ass holes raped into oblivion.
"Like an army falling, one by one by one" - Linkin Park
Make the old system obsolete: Sounds good, but people might panic...
No one here wanted to be the Billionaire.
Hope For America?
It's too bad it's come to this to give the Dumfukistinians the wake up call they need. Too late really.
Which way is least likely to cause panic and/or civil unrest? that is where the politicians will lead us. They don't want a revolt on thier hands.
The Creature from Jekyll Island:
We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!
There's an opportunity hidden in every problem & every disaster.
Now, the question is, can the libertarians who KNOW, can they exploit this disaster to acquire enough wealth to gain enough economic & political clout to establish a more libertarian system.
Founders didn't depend on the ignorant masses, they were the rich libertarian "elite", who established one of the freest countries history had ever seen, not by depending on the masses but by using their own economic & political power.
The more one understands the masses, the more one should realize that if ever a libertarian system is to be re-established, then it'd likely have to be top-down because masses are too stupid & ignorant to choose freedom over slavery.
There is enormous inertia — a tyranny of the status quo — in private and especially governmental arrangements. Only a crisis — actual or perceived — produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes politically inevitable
- Milton Friedman
^^^
'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988
Awareness is the Root of Liberation Revolution is Action upon Revelation
'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3
Flectere si nequeo superos, Acheronta movebo.
...the familiar ritual of institutional self-absolution...
...for protecting them, by mock trial, from punishment...
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